New Issue: Yantai Guofeng unit prices $250 million 2.2% bonds due 2024 at par

By William Gullotti

Buffalo, N.Y., Dec. 10 – Junfeng International Co., Ltd., a wholly owned subsidiary of Yantai Guofeng Investment Holdings Group Co., Ltd., priced $250 million of 2.2% guaranteed bonds due 2024 (//BBB+) at par, according to a listing notice with an appended offering circular on Friday.

The Regulation S bonds will be guaranteed by the parent company and can only be redeemed early for taxation reasons at par plus interest.

Guotai Junan International, Haitong International and Zhongtai International are the joint global coordinators, joint lead managers and joint bookrunners for the offering.

Also serving as joint lead managers and joint bookrunners are Hua Xia Bank Co., Ltd., Hong Kong Branch, Chiyu Banking Corp., Ltd., CNCB Capital, CMBC Capital, CMB Wing Lung Bank Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, SPDB International, ABC International and Shenwan Hongyuan (HK).

Proceeds will be used for project construction and replenishing working capital.

Listing for the bonds is expected on the Hong Kong Exchange effective Dec. 10.

Based in China, Yantai Guofeng is a regulated investment company which provides debt and equity financing to firms in its portfolio.

Issuer:	Junfeng International Co., Ltd.
Guarantor:	Yantai Guofeng Investment Holdings Group Co., Ltd.
Issue:	Bonds
Amount:	$250 million
Maturity:	Dec. 9, 2024
Bookrunners:	Guotai Junan International, Haitong International, Zhongtai International (global coordinators); Hua Xia Bank Co., Ltd., Hong Kong Branch, Chiyu Banking Corp., Ltd., CNCB Capital, CMBC Capital, CMB Wing Lung Bank Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, SPDB International, ABC International and Shenwan Hongyuan (HK)
Counsel to issuer:	Fangda Partners (English), Shandong Kangqiao Law Firm (China), Ogier (BVI)
Counsel to bookrunners:	King & Wood Mallesons (English), Landing Law Offices (China)
Coupon:	2.2%
Price:	Par
Yield:	2.2%
Call option:	For taxation reasons in whole, but not in part, at par plus interest
Change-of-control put:	At 101 plus interest
Registration event put:	At par plus interest
Pricing date:	Dec. 6
Issue date:	Dec. 9
Listing date:	Dec. 10
Ratings:	Fitch: BBB+
Distribution:	Regulation S
ISIN:	XS2406804240

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