New Issue: China’s Huai’an Investment prices $300 million 3.3% notes due 2025 at par

By William Gullotti

Buffalo, N.Y., March 1 – Huai’an Investment Holdings Group Co., Ltd. announced it priced $300 million of 3.3% notes due 2025 (Pengyuan: BBB-), according to a listing notice with an appended offering circular on Tuesday.

The notes are redeemable early at par plus interest for taxation reasons or upon a registration event and at 101 upon a change of control.

China Industrial Securities International, Huatai International and CLSA are the joint global coordinators, joint lead managers and joint bookrunners for the Regulation S offering.

Also serving as joint lead managers and joint bookrunners are Industrial Bank Co., Ltd., Hong Kong Branch, SPDB International, Hua Xia Bank Co., Ltd., Hong Kong Branch, CEB International, China International Capital Corp., Haitong International, CMBC Capital, Central Wealth Securities Investment Ltd., Fosun Hani, HK Sinoko Capital Ltd., Silk Road International and Sigma Capital.

Proceeds from the offering will be used to repay outstanding offshore debt.

Listing for the notes is expected on the Hong Kong Exchange effective March 1.

Based in Huai’an, China, the company provides infrastructure construction and investment services.

Issuer:	Huai’an Investment Holdings Group Co., Ltd.
Amount:	$300 million
Issue:	Notes
Maturity:	Feb. 28, 2025
Bookrunners:	China Industrial Securities International, Huatai International, CLSA, Industrial Bank Co., Ltd., Hong Kong Branch, SPDB International, Hua Xia Bank Co., Ltd., Hong Kong Branch, CEB International, China International Capital Corp., Haitong International, CMBC Capital, Central Wealth Securities Investment Ltd., Fosun Hani, HK Sinoko Capital Ltd., Silk Road International and Sigma Capital
Counsel to issuer:	Fangda Partners (English), Jincheng Tongda & Neal (China)
Counsel to bookrunners:	Junhe Law Offices (English), Beijing Dentons Law Offices, LLP (Nanjing office) (China)
Coupon:	3.3%
Price:	Par
Yield:	3.3%
Calls:	At any time for taxation reasons at par plus interest
Change of control:	At 101 plus interest
Registration event:	At par plus interest
Pricing date:	Feb. 23
Issue date:	Feb. 28
Listing date:	March 1
Rating:	Pengyuan: BBB-
Distribution:	Regulation S
ISIN:	XS2439969705

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