By Mary-Katherine Stinson
Lexington, Ky., Dec. 2 – China’s Taizhou Huangyan Transportation and Tourism Investment Group Co., Ltd. priced RMB 600 million 4.2% credit-enhanced bonds due Dec. 1, 2025 at par, according to an appended offering circular.
The bonds are backed by an irrevocable standby letter of credit issued by the Bank of Hangzhou Co., Ltd.
Caitong International and BOSC International are the joint global coordinators, lead managers and bookrunners.
Guotai Junan International, China Industrial Securities International, Industrial Bank Co., Ltd., Hong Kong Branch and Shenwan Hongyuan (H.K.) are also joint lead managers and joint bookrunners.
Proceeds will be used to fund the group’s projects and to replenish the group’s working capital.
The issuer is a state-owned asset operation platform focused on project development and infrastructure construction in the Huangyan District of China.
| Issuer: | Taizhou Huangyan Transportation and Tourism Investment Group Co., Ltd.
|
| LoC issuer: | Bank of Hangzhou Co., Ltd.
|
| Amount: | RMB 600 million
|
| Issue: | Credit-enhanced bonds
|
| Maturity: | Dec. 1, 2025
|
| Bookrunners: | Caitong International, BOSC International, Guotai Junan International, China Industrial Securities International, Industrial Bank Co., Ltd., Hong Kong Branch and Shenwan Hongyuan (H.K.)
|
| Trustee: | Bank of Communications Trustee Ltd.
|
| Counsel to issuer: | Jun He Law offices (English law) and Long An law firm (Chinese law)
|
| Counsel to underwriters: | Linklaters (English law) and Beijing Dacheng Law Offices, LLP (Chinese law)
|
| Coupon: | 4.2%
|
| Price: | Par
|
| Yield: | 4.2%
|
| Change of control: | At par
|
| Trade date: | Nov. 24
|
| Issue date: | Dec. 1
|
| 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.
