Published on 10/28/2021 in the Prospect News Emerging Markets Daily.
New Issue: Hualu Holdings unit prices $300 million 2.2% five-year guaranteed bonds at par
By William Gullotti
Buffalo, N.Y., Oct. 28 – Hualu International Finance (BVI) Ltd., an indirect but wholly owned subsidiary of Hualu Holdings Co., Ltd., issued $300 million of 2.2% five-year guaranteed bonds (A3//A-) at par, according to a listing notice with an appended offering circular on Thursday.
The Regulation S bonds are guaranteed by the parent company.
The bonds can only be redeemed early for taxation reasons at par plus interest.
Guotai Junan International, China International Capital Corp., Zhongtai International, ICBC (Asia), China Construction Bank (Asia), Shanghai Pudong Development Bank Hong Kong Branch and China Minsheng Banking Corp., Ltd., Hong Kong Branch are the joint global coordinators, joint lead managers and joint bookrunners for the offering.
Also serving as joint lead managers and joint bookrunners are ICBC International, Bank of China, CMB Wing Lung Bank Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, CCB International, TF International, CMBC Capital, China Everbright Bank Hong Kong Branch, Haitong International, CSFG, Shenwan Hongyuan (H.K.) and China Industrial Securities International.
Proceeds from the offering will be used for onshore project construction, the development of offshore business, refinancing offshore debt and replenishing working capital.
The listing for the bonds is expected on the Hong Kong Exchange effective Oct. 28.
Hualu Holdings is an investment company involved in chemical, medical, environmental protection and other fields.
Issuer: | Hualu International Finance (BVI) Ltd.
|
Guarantor: | Hualu Holdings Co., Ltd.
|
Issue: | Guaranteed bonds
|
Amount: | $300 million
|
Maturity: | Oct. 27, 2026
|
Bookrunners: | Guotai Junan International, China International Capital Corp., Zhongtai International, ICBC (Asia), China Construction Bank (Asia), Shanghai Pudong Development Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, ICBC International, Bank of China, CMB Wing Lung Bank Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, CCB International, TF International, CMBC Capital, China Everbright Bank Hong Kong Branch, Haitong International, CSFG, Shenwan Hongyuan (H.K.) and China Industrial Securities International
|
Trustee: | China Construction Bank (Asia) Corp. Ltd.
|
Counsel to issuer: | King & Wood Mallesons (English), Tahota Law Firm (China), Maples and Calder (Hong Kong) LLP (BVI)
|
Counsel to bookrunners: | Linklaters (English), Jingtian & Gongcheng (China)
|
Counsel to trustee: | Linklaters (English)
|
Coupon: | 2.2%
|
Price: | Par
|
Yield: | 2.2%
|
Call features: | For taxation reasons at par plus accrued interest
|
Change of control: | At 101
|
Registration event: | At par
|
Pricing date: | Oct. 20
|
Issue date: | Oct. 27
|
Listing date: | Oct. 28
|
Ratings: | Moody’s: A3
|
| Fitch: A-
|
Distribution: | Regulation S
|
ISIN: | XS2393957167
|
|
|
© 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.