Published on 4/17/2024 in the Prospect News Emerging Markets Daily.
New Issue: Zibo High-tech unit prices RMB 847 million of 6.9% guaranteed bonds due 2027 at par
By William Gullotti
Buffalo, N.Y., April 17 – Zibo High-tech International Investment Co., Ltd. priced RMB 847 million of 6.9% guaranteed bonds due 2027 at par, according to a listing notice and an offering circular on Wednesday.
The bonds will be guaranteed by parent company Zibo Hi-Tech State-Owned Capital Investment Co., Ltd.
Wan Lung Securities, TF International, China Galaxy International, China International Capital Corp., Dongxing Securities (Hong Kong), Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, Interarch Asset Management Ltd., Shanggu Asset Management (Asia) Ltd., Shenwan Hongyuan (H.K.) and Tung Yat Securities Ltd. are the placement agents.
Proceeds will be used for project construction, for replenishing working capital and to repay existing debt.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective April 17.
The issuer operates investment management associated with urban infrastructure construction, land development and other services.
| Issuer: | Zibo High-tech International Investment Co., Ltd.
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| Guarantor: | Zibo Hi-Tech State-Owned Capital Investment Co., Ltd.
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| Amount: | RMB 847 million
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| Issue: | Guaranteed bonds
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| Maturity: | April 16, 2027
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| Placement agents: | Wan Lung Securities, TF International, China Galaxy International, China International Capital Corp., Dongxing Securities (Hong Kong), Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, Interarch Asset Management Ltd., Shanggu Asset Management (Asia) Ltd., Shenwan Hongyuan (H.K.) and Tung Yat Securities Ltd.
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| Trustee: | China Construction Bank (Asia) Corp., Ltd.
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| Counsel to agents: | Morgan, Lewis & Bockius (England, Hong Kong), Yingke Law Firm (China)
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| Coupon: | 6.9%
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| Price: | Par
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| Yield: | 6.9%
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| Call: | For taxation reasons at par plus interest
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| Change-of-control put: | At 101 plus interest
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| Pricing date: | April 9
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| Issue date: | April 16
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| Listing date: | April 17
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| Distribution: | Regulation S
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| ISIN: | HK0001007142
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