New Issue: Fujian Jinjiang unit prices $158 million 6.35% one-year guaranteed bonds at par

By William Gullotti

Buffalo, N.Y., March 6 – China’s Jinjiang Road and Bridge Construction & Development Co., Ltd., a subsidiary of Fujian Jinjiang Urban Construction Investment & Development Group Co., Ltd., sold $158 million of 6.35% guaranteed bonds due 2025 at par, according to a listing notice with an appended offering circular on Wednesday.

The bonds are issued by the subsidiary and guaranteed by the parent.

Huatai International, Guotai Junan International, Luso Bank Ltd., CNCB Capital, China Industrial Securities International, BOC International, China Citic Bank International, China International Capital Corp., China Securities International, Citic Securities, CMB International, CMBC Capital, Dongxing Securities (Hong Kong), GF Securities, Guoyuan Securities (Hong Kong), Haitong International, SPDB International and Zhongtai International are the joint lead managers and joint bookrunners, with Huatai, Guotai Junan, Luso, CNCB and China Industrial also acting as joint global coordinators.

Proceeds will be used to repay existing debt.

Listing for the Regulation S bonds is expected on the Hong Kong Exchange effective March 6.

Formerly known as Jinjiang Road Construction Development Ltd., the issuer is a subsidiary of the guarantor, which operates its road infrastructure construction business through its subsidiary.

Issuer:	Jinjiang Road and Bridge Construction & Development Co., Ltd.
Guarantor:	Fujian Jinjiang Urban Construction Investment & Development Group Co., Ltd.
Amount:	$158 million
Issue:	Guaranteed bonds
Maturity:	March 4, 2025
Bookrunners:	Huatai International, Guotai Junan International, Luso Bank Ltd., CNCB Capital, China Industrial Securities International, BOC International, China Citic Bank International, China International Capital Corp., China Securities International, Citic Securities, CMB International, CMBC Capital, Dongxing Securities (Hong Kong), GF Securities, Guoyuan Securities (Hong Kong), Haitong International, SPDB International and Zhongtai International
Trustee:	China Citic Bank International Ltd.
Counsel to issuer:	Jun He Law Offices (England, Hong Kong), Dowway & Partners (China)
Counsel to underwriters:	King & Wood Mallesons (England, Hong Kong), Jingtian & Gongcheng (China)
Coupon:	6.35%
Price:	Par
Yield:	6.35%
Call:	For taxation reasons at par
Change of control:	At 101
No registration event:	At par
Pricing date:	Feb. 29
Issue date:	March 5
Listing date:	March 6
Distribution:	Regulation S
ISIN:	XS2771414260

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