Published on 1/31/2024 in the Prospect News Emerging Markets Daily.
New Issue: Chengdu Dongjin Huaizhou Xincheng prices RMB 335 million 7.6% bonds due 2026 at par
By William Gullotti
Buffalo, N.Y., Jan. 31 – China’s Chengdu Dongjin Huaizhou Xincheng Investment Group Co., Ltd. sold RMB 335 million of 7.6% bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.
Yuan Tong Global Securities, Shanghai Pudong Development Bank Hong Kong Branch, Sinomax Securities Ltd., JQ Securities, TF International, Tung Yat Securities Ltd., Essence International, Global Prosperity Financial Co., Ltd., Golden Rich Securities, Haitong International and Industrial Bank Co., Ltd., Hong Kong Branch are the joint lead managers and joint bookrunners for the Regulation S offering, with Yuan Tong also serving as sole global coordinator.
Proceeds will be used for project construction and replenishing working capital.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective Jan. 31.
The group is an operating platform for urban development in Jintang County in China.
| Issuer: | Chengdu Dongjin Huaizhou Xincheng Investment Group Co., Ltd.
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| Amount: | RMB 335 million
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| Issue: | Bonds
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| Maturity: | Jan. 30, 2026
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| Bookrunners: | Yuan Tong Global Securities, Shanghai Pudong Development Bank Hong Kong Branch, Sinomax Securities Ltd., JQ Securities, TF International, Tung Yat Securities Ltd., Essence International, Global Prosperity Financial Co., Ltd., Golden Rich Securities, Haitong International and Industrial Bank Co., Ltd., Hong Kong Branch
|
| Trustee: | China Construction Bank (Asia) Corp., Ltd.
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| Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Sheng Tang Law Firm (China)
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| Coupon: | 7.6%
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| Price: | Par
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| Yield: | 7.6%
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| Call: | For taxation reasons at par
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| Put: | At 101 for a change of control
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| Pricing date: | Jan. 24
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| Issue date: | Jan. 30
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| Listing date: | Jan. 31
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| Distribution: | Regulation S
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| ISIN: | XS2756075417
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