By Rebecca Melvin
Concord, N.H., Dec. 14 – China’s Yuyao Economic Development Zone Construction Investment and Development Co., Ltd. has priced $100 million of 2˝% notes due 2024 (expected ratings: Baa3//BBB-) that are guaranteed by parent company Yuyao Shuncai Investment Holding. Co., Ltd., according to a listing notice and an offering circular on Tuesday.
The Regulation S notes priced at par.
Guotai Junan International and BOSC International are joint global coordinators, joint lead managers and joint bookrunners. They are joined by China Zheshang Bank Co. Ltd. (Hong Kong branch) and ChaoShang Securities Ltd. as joint lead managers and joint bookrunners.
Proceeds will be used to refinance offshore debt.
Listing for the notes is expected on the Hong Kong Exchange effective Dec. 14.
The real estate company is involved in repurchase of construction projects, land development and real estate sales in China.
| Issuer: | Yuyao Economic Development Zone Construction Investment and Development Co. Ltd.Greenland Global Investment Ltd.
|
| Guarantor: | Yuyao Shuncai Investment Holding Co. Ltd.
|
| Issue: | Notes
|
| Amount: | $100 million
|
| Maturity: | Dec. 13, 2024
|
| Bookrunners: | Guotai Junan International, BOSC International, China Zheshang Bank Co. Ltd. (Hong Kong branch) and ChaoShang Securities Ltd.
|
| Coupon: | 2˝%
|
| Price: | Par
|
| Yield: | 2˝%
|
| Pricing date: | Dec. 13
|
| Listing date: | Dec. 14
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
| ISIN: | XS2413554036
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
