New Issue: China’s Huaibei Public Utility prices RMB 252 million of 6.8% bonds due 2026 at par

By William Gullotti

Buffalo, N.Y., April 12 – Huaibei Public Utility Assets Operation Co., Ltd. sold RMB 252 million of 6.8% bonds due 2026 at par, according to a listing notice and an offering circular on Friday.

TF International, Haitong International, China Galaxy International, Huatai International, Sinolink Securities (HK), Yuan Tong Global Securities, Cornerstone Securities Ltd., VMI Securities Ltd. and Fortune Origin Securities Ltd. are the joint lead managers and joint bookrunners for the Regulation S offering, with TF further serving as global coordinator.

Proceeds will be used to finance the Huaibei Eastern New Town and Main Town Area Centralized Heat Supply Engineering Construction Project and the Huaibei Datang Power Plant Upgrade Reconstruction Project (Phase I) as well as to replenish working capital.

Listing for the bonds is expected on the Chongwa (Macao) Exchange effective April 12.

The issuer is engaged in infrastructure construction in Huaibei City.

Issuer:	Huaibei Public Utility Assets Operation Co., Ltd.
Amount:	RMB 252 million
Issue:	Bonds
Maturity:	April 11, 2026
Bookrunners:	TF International, Haitong International, China Galaxy International, Huatai International, Sinolink Securities (HK), Yuan Tong Global Securities, Cornerstone Securities Ltd., VMI Securities Ltd. and Fortune Origin Securities Ltd.
Trustee:	China Citic Bank International Ltd.
Counsel to underwriters:	Jingtian & Gongcheng LLP (England, Hong Kong), Jingtian & Gongcheng (China)
Coupon:	6.8%
Price:	Par
Yield:	6.8%
Call:	For taxation reasons at par
Puts:	At 101 for a change of control; at par for a no registration event
Pricing date:	April 3
Issue date:	April 11
Listing date:	April 12
Distribution:	Regulation S
ISIN:	HK0000998119

© 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.