Published on 1/10/2024 in the Prospect News Emerging Markets Daily.
New Issue: China’s Hengyang High-tech prices RMB 193.75 million 5.98% bonds due 2027 at par
By William Gullotti
Buffalo, N.Y., Jan. 10 – Hengyang High-tech Holding Group Co., Ltd. sold RMB 193.75 million of 5.98% bonds due 2027 at par, according to a listing notice and an offering circular on Wednesday.
CNCB Capital, Dingxin (Securities) Ltd., Hooray Securities Ltd., Shenwan Hongyuan (H.K.), China Zheshang Bank Co., Ltd. (Hong Kong Branch), Industrial Bank Co., Ltd., Hong Kong Branch, Guotai Junan International, Essence International, Citic Securities, Hua Xia Bank Co., Ltd., Hong Kong Branch and Haitong International are the placing agents for the Regulation S offering.
Proceeds will be used for project construction and to replenish working capital.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective Jan. 10.
Based in Hengyang City of China’s Hunan Province, the issuer is a state-owned land development and infrastructure construction entity.
| Issuer: | Hengyang High-tech Holding Group Co., Ltd.
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| Amount: | RMB 193.75 million
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| Issue: | Bonds
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| Maturity: | Jan. 10, 2027
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| Placing agents: | CNCB Capital, Dingxin (Securities) Ltd., Hooray Securities Ltd., Shenwan Hongyuan (H.K.), China Zheshang Bank Co., Ltd. (Hong Kong Branch), Industrial Bank Co., Ltd., Hong Kong Branch, Guotai Junan International, Essence International, Citic Securities, Hua Xia Bank Co., Ltd., Hong Kong Branch and Haitong International
|
| Trustee: | China Citic Bank International Ltd.
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| Coupon: | 5.98%
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| Price: | Par
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| Yield: | 5.98%
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| Call: | For taxation reasons at par
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| Puts: | At 101 for a change-of-control; at par for a no registration event
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| Pricing date: | Jan. 5
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| Issue date: | Jan. 10
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| Listing date: | Jan. 10
|
| Distribution: | Regulation S
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| ISIN: | XS2735263746
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