Published on 9/19/2022 in the Prospect News Emerging Markets Daily.
New Issue: Qinglun issues $400 million 5.45% guaranteed bonds due 2025
Chicago, Sept. 19 – Qinglun International (BVI) Co., Ltd. issued $400 million of 5.45% guaranteed bonds due 2025 at par, according to an offering circular.
The bonds are guaranteed by parent Ningbo Beilun Modern Service Industry Development Co., Ltd.
Zhongtai International, Haitong International, Haitong Bank and Guosen Securities (HK) are listed as joint global coordinators.
Joining them as joint bookrunners and joint lead managers are China Zheshang Bank Co., Ltd. (Hong Kong Branch), CEB International, Industrial Bank Co., Ltd. Hong Kong Branch, China Securities International, China International Capital Corp., Bank of China and CLSA.
Proceeds will be used for the equity investment and for the replenishment of working capital of the group.
The bonds were not rated.
The issuer is one of the largest state-owned enterprises and a primary infrastructure construction platform in the Beilun District of Ningbo City, Zhejiang Province of China.
| Issuer: | Qinglun International (BVI) Co., Ltd.
|
| Guarantor: | Ningbo Beilun Modern Service Industry Development Co., Ltd.
|
| Amount: | $400 million
|
| Issue: | Guaranteed bonds
|
| Maturity: | Sept. 16, 2025
|
| Bookrunners: | Zhongtai International, Haitong International, Haitong Bank, Guosen Securities (HK), China Zheshang Bank Co., Ltd. (Hong Kong Branch), CEB International, Industrial Bank Co., Ltd. Hong Kong Branch, China Securities International, China International Capital Corp., Bank of China and CLSA
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
|
| Counsel to issuer: | Deacons, Zhejiang Z&J Law Firm, Ogier
|
| Counsel to underwriters: | Mayer Brown, Grandall Law Firm (Jinan)
|
| Coupon: | 5.45%
|
| Price: | Par
|
| Yield: | 5.45%
|
| Change of control: | At 101
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 16
|
| Distribution: | Regulation S
|
| ISIN: | XS2480855258
|
|
|
© 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.
