Chicago, Sept. 27 – Pinghu State-Owned Assets Holding Group Co., Ltd. issued $300 million of 2.2% bonds due 2024 (//BBB-), according to an offering circular.
The bonds were sold at par.
The bonds can be redeemed early for taxation reasons at the option of the issuer.
Joint global coordinators, joint lead managers and joint bookrunners are Guosen Securities (HK) and Bank of China.
Joint lead managers and joint bookrunners are Emirates NBD Capital, Huatai International, ABC International, Industrial Bank Co., Ltd. Hong Kong Branch, China Industrial Securities International, CMB Wing Lung Bank Ltd., China International Capital Corp. and CLSA.
Proceeds from the Regulation S issue will be used for construction of certain projects and replenishing working capital.
The issuer is the sole comprehensive state-owned investment, construction and operating platform in Pinghu City.
| Issuer: | Pinghu State-Owned Assets Holding Group Co., Ltd.
|
| Issue: | Bonds
|
| Amount: | $300 million
|
| Maturity: | Sept. 24, 2024
|
| Bookrunners: | Emirates NBD Capital, Huatai International, ABC International, Industrial Bank Co., Ltd. Hong Kong Branch, China Industrial Securities International, CMB Wing Lung Bank Ltd., China International Capital Corp. and CLSA
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
|
| Counsel to issuer: | Fangda Partners (English), Hiways Law Firm (China)
|
| Counsel to bookrunners: | King & Wood Mallesons (English), Zhejiang T&C Law Firm (China)
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| Coupon: | 2.2%
|
| Price: | Par
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| Yield: | 2.2%
|
| Call features: | For taxation reasons
|
| Change of control: | At 101
|
| Non-registration event: | At par
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| Trade date: | Sept. 16
|
| Settlement date: | Sept. 24
|
| Ratings: | Fitch: BBB-
|
| Distribution: | Regulation S
|
| ISIN: | XS2386427871
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