Chicago, Oct. 29 – China’s Hebei Shunde Investment Group Co., Ltd. sold $75 million of 2% credit-enhanced bonds due 2024 at par, according to an offering circular.
The bonds come with an irrevocable standby letter of credit provided by Hua Xia Bank Co., Ltd. Shijiazhuang Branch.
Joint global coordinators, joint bookrunners and joint lead managers for the Regulation S issue are Shanxi Securities International and Hua Xia Bank Co., Ltd. Hong Kong Branch.
Joint bookrunners and joint lead managers are ABC International, Central Wealth Securities Investment Ltd., Luso Bank Ltd. and Sigma Capital.
The bonds will be listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd.
Proceeds will be used for replenishing the issuer’s working capital and refinancing debt.
The company is involved in infrastructure construction services and municipal development and is based in Xingtai, China.
| Issuer: | Hebei Shunde Investment Group Co., Ltd.
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| Issue: | Credit-enhanced bonds
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| Amount: | $75 million
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| Maturity: | Oct. 28, 2024
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| Bookrunners: | Shanxi Securities International, Hua Xia Bank Co., Ltd. Hong Kong Branch, ABC International, Central Wealth Securities Investment Ltd., Luso Bank Ltd. and Sigma Capital
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| Trustee: | Bank of New York Mellon, London Branch
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| Counsel to issuer: | Jun He Law Offices
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| Counsel to bookrunners: | William Ji & Co. LLP and Beijing Yingke (Shijiazhuang) Law Firm
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| Coupon: | 2%
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| Price: | Par
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| Yield: | 2%
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| Settlement date: | Oct. 28
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| Distribution: | Regulation S
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| ISIN: | XS2384852310
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