By Mary-Katherine Stinson
Lexington, Ky., Dec. 7 – China’s Huzhou Nanxun Zhenxun Sewage Treatment Co., Ltd. sold RMB 350 million 4½% credit-enhanced bonds due Dec. 6, 2025 at par, according to an offering document.
The bonds are backed by an irrevocable standby letter of credit issued by Bank of Hangzhou Co., Ltd Huzhou Branch.
Orient Securities (Hong Kong) Ltd. and BOSC International Co. Ltd. are the joint global coordinators, joint lead managers and joint bookrunners for the offering.
Also serving as a joint bookrunner and joint lead manager is China Industrial Securities International Brokerage Ltd.
Proceeds from the offering will be used for project construction and replenishing working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Financial Asset Exchange Co., Ltd.
The issuer is a state-owned entity in Nanxun District of Huzhou City providing sewage treatment, greenery and pipeline network maintenance services.
| Issuer: | Huzhou Nanxun Zhenxun Sewage Treatment Co., Ltd.
|
| LoC Issuer: | Bank of Hangzhou Co., Ltd Huzhou Branch
|
| Issue: | Credit-enhanced bonds
|
| Amount: | RMB 350 million
|
| Maturity: | Dec. 6, 2025
|
| Bookrunners: | Orient Securities (Hong Kong) Ltd., BOSC International Co. Ltd. and China Industrial Securities International Brokerage Ltd.
|
| Trustee: | Bank of Communication Trustee Ltd.
|
| Counsel to bookrunners: | Mayer Brown (English), JunHe LLP (China)
|
| Coupon: | 4½%
|
| Price: | Par
|
| Call: | Non-callable
|
| Change of control: | At par
|
| Pricing date: | Nov. 29
|
| Issue date: | Dec. 6
|
| Distribution: | Regulation S
|
|
|
© 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.
