New Issue: China’s Nanping Wuyi prices RMB 650 million 4.2% guaranteed bonds due 2027 at par

By William Gullotti

Buffalo, N.Y., March 15 – Nanping Wuyi Group Co., Ltd. sold RMB 650 million of 4.2% guaranteed bonds due 2027 at par, according to a listing notice and an offering circular on Friday.

The bonds are guaranteed by the issuer’s 90% parent, Nanping Wuyi Development Group Co., Ltd.

Sigma Capital, Guotai Junan International, China Securities International, Sinolink Securities (HK), Fosun International Securities, China Citic Bank International, Industrial Bank Co., Ltd., Hong Kong Branch, Hua Xia Bank Co., Ltd., Hong Kong Branch, Guolian Securities International, China International Capital Corp., Haitong Bank, Haitong International, China Industrial Securities International, Bank of China, DBS Bank Ltd., Citic Securities, CMBC Capital, Bocom International, Alpine Securities, China Galaxy International, Shanxi Securities International, CEB International and Gee Hi International Securities (Hong Kong) Ltd. are the joint lead managers and joint bookrunners for the Regulation S offering, with Sigma, Guotai Junan, China Securities, Sinolink and Fosun also serving as joint global coordinators.

Proceeds will be used for construction projects and to replenish working capital.

Listing for the bonds is expected on the Chongwa (Macao) Exchange effective March 15.

Based and operating in China’s Nanping City, the issuer’s primary business segments focus on expressway construction and financing, project construction and operation, sales of real property and commodity sales.

Issuer:	Nanping Wuyi Group Co., Ltd.
Guarantor:	Nanping Wuyi Development Group Co., Ltd.
Amount:	RMB 650 million
Issue:	Guaranteed bonds
Maturity:	March 14, 2027
Bookrunners:	Sigma Capital, Guotai Junan International, China Securities International, Sinolink Securities (HK), Fosun International Securities, China Citic Bank International, Industrial Bank Co., Ltd., Hong Kong Branch, Hua Xia Bank Co., Ltd., Hong Kong Branch, Guolian Securities International, China International Capital Corp., Haitong Bank, Haitong International, China Industrial Securities International, Bank of China, DBS Bank Ltd., Citic Securities, CMBC Capital, Bocom International, Alpine Securities, China Galaxy International, Shanxi Securities International, CEB International and Gee Hi International Securities (Hong Kong) Ltd.
Trustee:	China Citic Bank International Ltd.
Counsel to underwriters:	Linklaters (England), Beijing Yingke Law Firm Shanghai Office (China)
Coupon:	4.2%
Price:	Par
Yield:	4.2%
Call:	For taxation reasons at par
Puts:	At 101 upon change of control; at par for a no registration event
Pricing date:	March 7
Issue date:	March 14
Listing date:	March 15
Distribution:	Regulation S
ISIN:	HK0000998002

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