New Issue: Heze City prices $112.28 million 8% guaranteed notes due 2026 at par

By William Gullotti

Buffalo, N.Y., Nov. 8 – Heze City Investment Holdings International Co., Ltd. sold $112.28 million of 8% guaranteed notes due 2026 (Lianhe: BBB) at par, according to a listing notice and an offering circular on Wednesday.

The notes were initially offered for a total of $82.28 million on Nov. 2, with 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, China Credit International Securities Co., Ltd., Fosun International Securities, Citic Securities, Huatai International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Essence International, Far East Horizon International and JQ Securities are the joint lead managers and joint bookrunners for the Regulation S offering, with Zhongtai, China Credit, Fosun and Citic also acting as joint global coordinators.

Proceeds will be used to replenish the parent company’s working capital.

Listing for the notes is expected on the Chongwa (Macao) Exchange effective Nov. 8.

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.
Amount:	$112.28 million
Issue:	Guaranteed notes
Maturity:	Nov. 7, 2026
Bookrunners:	Zhongtai International, China Credit International Securities Co., Ltd., Fosun International Securities, Citic Securities, Huatai International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Essence International, Far East Horizon International and JQ Securities
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Patrick Mak & Tse Solicitors (England, Hong Kong), Walkers (Hong Kong) (BVI)
Counsel to underwriters:	Herbert Smith Freehills (England, Hong Kong), Shandong Qi Lu Law Firm (China)
Coupon:	8%
Price:	Par
Yield:	8%
Call:	For taxation reasons at par plus interest
Change of control:	At 101 plus interest
Pricing date:	Nov. 6
Issue date:	Nov. 7
Listing date:	Nov. 8
Rating:	Lianhe: BBB
Distribution:	Regulation S
ISIN:	XS2693585304

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