By William Gullotti
Buffalo, N.Y., Jan. 12 – Huzhou Wuxing Industrial Investment Development Group Co., Ltd. priced RMB 770 million of 5.4% bonds due 2026 at par, according to a listing notice and an offering circular on Thursday.
Initial Capital Securities, Fosun Hani, Industrial Bank Co., Ltd., Hong Kong Branch, Orient Securities (Hong Kong) and Shenwan Hongyuan (HK) are the joint lead managers and joint bookrunners for the offering, with Initial Capital and Fosun Hani also acting as joint global coordinators.
Caida Securities Co., Ltd. is the PRC coordinator.
Proceeds will be used for onshore project construction and replenishing working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Jan. 12.
The issuer is a state-owned enterprise involved in infrastructure construction, land consolidation and development, as well as sale of resettlement housing in Huzhou City, China.
| Issuer: | Huzhou Wuxing Industrial Investment Development Group Co., Ltd.
|
| Amount: | RMB 770 million
|
| Issue: | Bonds
|
| Maturity: | Jan. 11, 2026
|
| Bookrunners: | Initial Capital Securities, Fosun Hani, Industrial Bank Co., Ltd., Hong Kong Branch, Orient Securities (Hong Kong) and Shenwan Hongyuan (HK)
|
| PRC coordinator: | Caida Securities Co., Ltd.
|
| Trustee: | China Central Depository & Clearing Co., Ltd. (as principal paying agent and registrar)
|
| Counsel to issuer: | Chungs Lawyers (in association with DeHeng Law Offices) (England), Deheng Law Offices (Hangzhou) (China)
|
| Counsel to underwriters: | Fangda Partners (England), Jingtian & Gongcheng (Hangzhou) (China)
|
| Coupon: | 5.4%
|
| Price: | Par
|
| Yield: | 5.4%
|
| Call option: | For taxation reasons at par plus interest
|
| Change of control: | At 101 plus interest
|
| Pricing date: | Jan. 6
|
| Issue date: | Jan. 11
|
| Listing date: | Jan. 12
|
| Distribution: | Regulation S
|
|
|
© 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.
