Published on 1/26/2022 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Quzhou Communications sells $200 million 2½% green bonds due 2025
By Rebecca Melvin
Concord, N.H., Jan. 26 – Quzhou Communications Investment Group Co. Ltd. sold $200 million 2½% green bonds due 2025 (expected rating: //BBB-), according to a listing notice Wednesday.
The Regulation S bonds priced at par and are being listed on the Stock Exchange of Hong Kong Ltd.
Central Wealth Securities Investment Ltd., China Citic Bank International and ABC International were joint global coordinators, joint lead managers and joint bookrunners. They were joined by China International Capital Corp., BOSC International, Bank of China, OCBC Bank, Industrial Bank Co. Ltd. Hong Kong Branch, Bocom International, CMB Wing Lung Bank Ltd., ICBC International, Haitong International, CMB International, Huatai International, SPDB International, China Zheshang Bank Co. Ltd. (Hong Kong Branch) and China Securities International as joint lead managers and joint bookrunners.
China International Capital is the green structuring adviser.
The state-owned transport infrastructure construction platform is based in Quzhou City, Zhenjiang Province.
| Issuer: | Quzhou Communications Investment Group Co. Ltd.
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| Amount: | $200 million
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| Issue: | Green bonds
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| Maturity: | Jan. 25, 2025
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| Bookrunners: | Central Wealth Securities Investment Ltd., China Citic Bank International and ABC International, China International Capital Corp., BOSC International, Bank of China, OCBC Bank, Industrial Bank Co. Ltd. Hong Kong Branch, Bocom International, CMB Wing Lung Bank Ltd., ICBC International, Haitong International, CMB International, Huatai International, SPDB International, China Zheshang Bank Co. Ltd. (Hong Kong Branch) and China Securities International
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| Trustee: | Bank of New York Mellon, London Branch
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| Coupon: | 2½%
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| Price: | Par
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| Yield: | 2½%
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| Call option: | At par for tax reasons
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| Put option: | At 101 upon change of control; at par if no registration event occurs
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| Issue date: | Jan. 25
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| Rating: | Fitch: BBB-
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| Distribution: | Regulation S
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| ISIN: | XS2434390865
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