Published on 12/30/2021 in the Prospect News Emerging Markets Daily.
New Issue: Jinan Rail unit issues $100 million 2% guaranteed bonds due 2022
Chicago, Dec. 30 – Jinan Shuntong International Co., Ltd. sold $100 million of 2% guaranteed bonds due 2022 (//A-), according to an offering circular.
The bonds are guaranteed by Jinan Rail Transit Group Co., Ltd.
The bonds priced at par.
CCB International and Bank of China Macau Branch led the sale as joint global coordinators. They were joined as joint bookrunners by Luso Bank Ltd., CMB Wing Lung Bank Ltd., Bocom International and Guotai Junan International.
Proceeds were used for general corporate purposes.
The group is a state-owned entity for the construction and operation of rail transit in Junan City, Shandong Province.
Issuer: | Jinan Shuntong International Co., Ltd.
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Guarantor: | Jinan Rail Transit Group Co., Ltd.
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Amount: | $100 million
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Issue: | Guaranteed bonds
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Maturity: | Dec. 12, 2022
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Bookrunners: | CCB International, Bank of China Macau Branch, Luso Bank Ltd., CMB Wing Lung Bank Ltd., Bocom International and Guotai Junan International
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Co-managers:
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Trustee: | Bank of China Ltd., Macau Branch
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Counsel to issuer: | Fangda Partners, Gaopeng & Partners, FCLaw Lawyer & Private Notaries
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Counsel to underwriters: | Freshfields Bruckhaus Deringer, DeHeng Law Offices, STA-Lawyers
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Coupon: | 2%
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Price: | Par
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Yield: | 2%
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Change of control: | At 101
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Trade date: | Dec. 7
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Settlement date: | Dec. 13
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Ratings: | Fitch: A-
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Distribution: | Regulation S
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ISIN: | MO000A3KX7V9
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