New Issue: China’s Weihai City Investment prices RMB 710 million of 5.2% bonds due 2027 at par

By William Gullotti

Buffalo, N.Y., April 17 – Weihai City Investment Group Co., Ltd. sold RMB 710 million of 5.2% three-year bonds at par, according to a listing notice and an offering circular on Wednesday.

China Credit International Securities, Citic Securities, China International Capital Corp., Bocom International, Bank of China, Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shenwan Hongyuan (H.K.), China Industrial Securities International, ICBC International, SunRiver International Securities Group Ltd., Essence International, CNI Securities Group Ltd., Silk Road International, Huatai International, Zhongtai International, Wan Lung Securities and TF International are the joint lead managers and joint bookrunners for the offering, with China Credit, Citic, China International, Bocom and Bank of China also serving as joint global coordinators.

Proceeds will be used to replenish working capital.

Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective April 17.

Based in Weihai, China, the issuer is a developer involved in the investment, financing, construction and operation of large-scale urban infrastructure.

Issuer:	Weihai City Investment Group Co., Ltd.
Amount:	RMB 710 million
Issue:	Bonds
Maturity:	April 16, 2027
Bookrunners:	China Credit International Securities, Citic Securities, China International Capital Corp., Bocom International, Bank of China, Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shenwan Hongyuan (H.K.), China Industrial Securities International, ICBC International, SunRiver International Securities Group Ltd., Essence International, CNI Securities Group Ltd., Silk Road International, Huatai International, Zhongtai International, Wan Lung Securities and TF International
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Morgan, Lewis & Bockius (England), Jingtian & Gongcheng (China)
Counsel to underwriters:	DeHeng Law Offices (Hong Kong) LLP (England), Beijing DHH (Jinan) Law Firm (China)
Coupon:	5.2%
Price:	Par
Yield:	5.2%
Call:	For taxation reasons at par
Puts:	At 101 upon change of control; at par for a non-registration event
Pricing date:	April 9
Issue date:	April 16
Listing date:	April 17
Distribution:	Regulation S
ISIN:	HK0001000857

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