By William Gullotti
Buffalo, N.Y., Dec. 18 – Heze City Investment Holdings International Co., Ltd. sold $20 million more 8% guaranteed notes due 2026 (Lianhe: BBB) at par, according to a listing notice and an offering circular on Monday.
$112.28 million of the notes were initially issued on Nov. 7, $82.28 million of which priced on Nov. 2 and an additional $30 million priced Nov. 6.
The overall issuance is subject to identical terms, including pricing, and will be consolidated under the same ISIN after settlement.
Parent company Heze City Investment Holdings Group Co., Ltd. will guarantee the notes.
Zhongtai International and Haitong Bank, Macau Branch are the joint lead managers and joint bookrunners for the Regulation S tap offering, with Zhongtai acting as sole global coordinator.
As with the initial offering, proceeds will be used to replenish the parent company’s working capital.
Listing for the notes is expected on the Chongwa (Macao) Exchange effective Dec. 18.
The group is a key developer in Heze responsible for the construction and engineering of urban infrastructure projects.
| Issuer: | Heze City Investment Holdings International Co., Ltd.
|
| Guarantor: | Heze City Investment Holdings Group Co., Ltd.
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| Amount: | $20 million, add-on
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| Issue: | Guaranteed notes
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| Maturity: | Nov. 7, 2026
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| Bookrunners: | Zhongtai International (global coordinator) and Haitong Bank, Macau Branch
|
| Trustee: | China Construction Bank (Asia) Corp., Ltd.
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| Counsel to issuer: | Patrick Mak & Tse Solicitors (England, Hong Kong), Commerce & Finance Law Offices (China), Walkers (Hong Kong) (BVI)
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| Counsel to underwriters: | Herbert Smith Freehills (England, Hong Kong), Shandong Qi Lu Law Firm (China)
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| Coupon: | 8%
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| Price: | Par plus accrued and unpaid interest from, and including, Nov. 7
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| Yield: | 8%
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| Call: | Non-callable
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| Change of control: | At 101 plus interest
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| Pricing date: | Dec. 12
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| Issue date: | Dec. 15
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| Listing date: | Dec. 18
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| Rating: | Lianhe: BBB
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| Distribution: | Regulation S
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| ISIN: | XS2693585304
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| Total issue: | $132.28 million, including $112.28 million initially issued Nov. 7
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