Published on 11/8/2021 in the Prospect News Emerging Markets Daily.
New Issue: China’s Yunnan Communications issues $100 million 3.8% guaranteed notes due 2026
Chicago, Nov. 8 – YCIC International (HK) Co., Ltd., a wholly owned subsidiary of Yunnan Communications Investment and Construction Group Co., Ltd., issued $100 million of 3.8% guaranteed notes due 2026.
The notes are guaranteed by the parent company.
China Industrial Securities International Financial Group Ltd. is the global coordinator for the offering.
The offering circular lists Industrial Bank Co., Ltd. Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, ICBC International, ICBC (Asia), Shenwan Hongyuan (HK), Guotai Junan International and Glory Sun Financial as joint lead managers and joint bookrunners.
Proceeds will be used for general corporate purposes.
YCIC International was incorporated in March. Yunnan Communications Investment and Construction Group is a provider of infrastructure construction, road construction and other services.
| Issuer: | YCIC International (HK) Co., Ltd.
|
| Guarantor: | Yunnan Communications Investment and Construction Group Co., Ltd.
|
| Issue: | Guaranteed notes
|
| Amount: | $100 million
|
| Maturity: | 2026
|
| Bookrunners: | China Industrial Securities International Financial Group Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, ICBC International, ICBC (Asia), Shenwan Hongyuan (H.K.), Guotai Junan International and Glory Sun Financial
|
| Trustee: | Industrial and Commercial Bank of China (Asia) Ltd.
|
| Counsel to issuer: | Dentons Hong Kong LLP
|
| Counsel to underwriters: | Allen & Overy (English), Jingtian & Gongcheng (China)
|
| Coupon: | 3.8%
|
| Price: | Par
|
| Yield: | 3.8%
|
| Change of control: | At 101
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 5
|
| Distribution: | Regulation S
|
| ISIN: | XS2401935155
|
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