Published on 12/5/2022 in the Prospect News Emerging Markets Daily.
New Issue: Xiamen ITG Holding sells $200 million 6½% guaranteed bonds due 2023
Chicago, Dec. 5 – ITG Holding Investment (HK) Ltd. sold $200 million of 6½% guaranteed bonds due Dec. 1, 2023, according to an offering document.
The bonds are guaranteed by parent Xiamen ITG Holding Group Co., Ltd.
The bonds priced at par.
The joint global coordinators, joint bookrunners and joint lead managers are Luso Bank Ltd. and Essence International.
The joint bookrunners and joint lead managers also include CMB Wing Lung Bank Ltd., China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch and Guotai Junan International.
Proceeds will be used to refinance existing offshore debt.
The issuer is a wholly owned subsidiary of the guarantor. The group has five main businesses: supply chain, urban construction and operation, consumer and health, financial services and advanced manufacturing businesses. The group is incorporated in Hong Kong.
| Issuer: | ITG Holding Investment (HK) Ltd.
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| Guarantor: | Xiamen ITG Holding Group Co., Ltd.
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| Amount: | $200 million
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| Issue: | Guaranteed bonds
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| Maturity: | Dec. 1, 2023
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| Bookrunners: | Luso Bank Ltd., Essence International, CMB Wing Lung Bank Ltd., China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch and Guotai Junan International
|
| Co-manager: | Xiamen International Bank Co., Ltd.
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| Trustee: | Luso International Banking Ltd.
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| Counsel to issuer: | Ashurst Hong Kong, Llinks Law Offices and Rato, Ling, Lei & Cortes – Advoagdos
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| Counsel to underwriters: | Davis Polk & Wardwell LLP, Zhong Lun Law Firm and MdME Lawyers
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| Coupon: | 6½%
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| Price: | Par
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| Yield: | 6½%
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| Change of control: | At 101
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| Trade date: | Nov. 25
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| Settlement date: | Dec. 2
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| Distribution: | Regulation S
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| ISIN: | MO0000000154
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