Chicago, June 21 – China Railway Construction Corp. Ltd. announced it priced $1 billion of 3.97% unsecured perpetual notes at par, according to a notice.
The notes (Baa1), issued through CRCC Chengan Ltd., will be used for general corporate purposes, refinancing and overseas investment.
The first call date for the perpetual securities is June 27, 2024.
Citigroup Global Markets Ltd., Hongkong and Shanghai Banking Corp. Ltd., ICBC International Securities Ltd., Bank of China Ltd., Bank of China (Hong Kong) Ltd. and DBS Bank Ltd. were the joint lead managers for the issue.
The construction group is based in Beijing.
| Issuer: | CRCC Chengan Ltd.
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| Guarantor: | China Railway Construction Corp. Ltd.
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| Issue: | Perpetual notes
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| Amount: | $1 billion
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| Maturity: | Perpetual
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| Bookrunners: | Citigroup Global Markets Ltd., Hongkong and Shanghai Banking Corp. Ltd., ICBC International Securities Ltd., Bank of China Ltd., Bank of China (Hong Kong) Ltd. and DBS Bank Ltd.
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| Coupon: | 3.97%
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| Price: | Par
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| First call date: | June 27, 2024
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| Issue date: | June 20
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| Settlement date: | June 27
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| Ratings: | Moody’s: Baa1
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| Distribution: | Regulation S
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