New Issue: China’s Haina Urban sells RMB 334 million 4.95% credit-enhanced guaranteed bonds due 2026

By William Gullotti

Buffalo, N.Y., Nov. 29 – Haina Urban Investment International Holding Ltd. sold RMB 334 million of 4.95% credit-enhanced guaranteed bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.

The bonds will be unconditionally guaranteed by parent company Zhoushan Putuo Urban Investment Development and Construction Co., Ltd. and feature the benefit of an irrevocable standby letter of credit issued by Bank of Shaoxing Co., Ltd.

Cinda International, China Galaxy International, Haitong International, Haitong Bank, ABC International, Bowlea Securities, Guolian Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Huatai International, Guotai Junan International, Zhongtai International, Essence International and Dingxin (Securities) Ltd. are the joint lead managers and joint bookrunners, with Cinda, China Galaxy, Haitong International, Haitong Bank, ABC and Bowlea also acting as joint global coordinators.

Proceeds from the Regulation S offering will be used for project construction and to replenish working capital.

Listing for the bonds is expected on the Chongwa (Macao) Exchange effective Nov. 29.

The issuer is a wholly owned indirect subsidiary of the guarantor, incorporated in the British Virgin Islands on April 7, 2022. The guarantor is controlled by the finance bureau of Putuo District in China’s Zhoushan City, involved in agent construction, trading and facilitating social and economic development.

Issuer:	Haina Urban Investment International Holding Ltd.
Guarantor:	Zhoushan Putuo Urban Investment Development and Construction Co., Ltd.
LoC issuer:	Bank of Shaoxing Co., Ltd.
Amount:	RMB 334 million
Issue:	Credit-enhanced guaranteed bonds
Maturity:	Nov. 28, 2026
Bookrunners:	Cinda International, China Galaxy International, Haitong International, Haitong Bank, ABC International, Bowlea Securities, Guolian Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Huatai International, Guotai Junan International, Zhongtai International, Essence International and Dingxin (Securities) Ltd.
Trustee:	CMB Wing Lung (Trustee) Ltd.
Counsel to issuer:	DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Zhejiang Z&J Law Firm (China), Ogier (BVI)
Counsel to underwriters:	King & Wood Mallesons (England, Hong Kong), DeHeng Law Offices (China)
Coupon:	4.95%
Price:	Par
Yield:	4.95%
Call:	For taxation reasons at par plus interest
Change of control:	At par plus interest
Pricing date:	Nov. 21
Issue date:	Nov. 28
Listing date:	Nov. 29
Distribution:	Regulation S
ISIN:	HK0000968450

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