Chicago, Feb. 24 – Huaibei Public Utility Assets Operation Co., Ltd. sold RMB 640 million 3.78% credit-enhanced bonds due 2026, according to an offering document.
The price was par.
The notes benefit from a standby letter of credit issued by Industrial and Commercial Bank of China Ltd., Anhui Provincial Branch.
The joint global coordinators, joint lead managers and joint bookrunners are TF International and ICBC International.
The joint lead managers and joint bookrunners are ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch and Bocom International.
Proceeds will be used for project construction and to supplement working capital.
The issuer is engaged in infrastructure construction in Huaibei City.
| Issuer: | Huaibei Public Utility Assets Operation Co., Ltd.
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| LoC issuer: | Industrial and Commercial Bank of China Ltd., Anhui Provincial Branch
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| Amount: | RMB 640 million
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| Issue: | Credit-enhanced bonds
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| Maturity: | Feb. 23, 2026
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| Bookrunners: | TF International, ICBC International (joint global coordinators), ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch and Bocom International
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| Trustee: | Industrial and Commercial Bank of China (Asia) Ltd.
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| Counsel to issuer: | Reed Smith Richards Butler LLP
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| Counsel to underwriters: | Fangda Partners and Jingtian & Gongcheng
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| Coupon: | 3.78%
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| Price: | Par
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| Yield: | 3.78%
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| Change of control: | At par
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| Trade date: | Feb. 16
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| Settlement date: | Feb. 23
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| Distribution: | Regulation S
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