Published on 11/17/2020 in the Prospect News Emerging Markets Daily.
New Issue: China Orient Asset unit prices $750 million of bonds due 2025, 2030
By Cady Vishniac
Detroit, Nov. 17 – China’s Joy Treasure Assets Holdings Inc. priced $450 million of 1 7/8% bonds due 2025 and $300 million of 2¾% bonds due 2030 (A), according to a listing announcement.
The notes are guaranteed by parent China Orient Asset Management (International) Holding Ltd.
BOC International, Standard Chartered Bank, Bank of Communications, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Bank of China (Hong Kong), BofA Securities, ANZ, Goldman Sachs (Asia) LLC, UBS, Credit Agricole CIB, Deutsche Bank and CCB International acted as joint global coordinators, joint bookrunners and joint lead managers on the Regulation S deal.
ICBC, China Everbright Bank Hong Kong Branch, Dongxing Securities (Hong Kong), CMB International, CMB Wing Lung Bank Ltd., J.P. Morgan, Shanghai Pudong Development Bank, Industrial Bank Co., Ltd. Hong Kong Branch, China Industrial Securities International, China International Capital Corp., CMBC Capital, ABC International, China Securities International, Nanyang Commercial Bank, Bison Bank and Everbright Securities International were joint bookrunners and joint lead managers.
Proceeds will be used for refinancing debt, according to Fitch Ratings.
China Orient Asset Management is a Beijing-based financial services firm.
| Issuer: | Joy Treasure Asset Holdings Inc.
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| Guarantor: | China Orient Asset Management (International) Holding Ltd.
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| Issue: | Bonds
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| Bookrunners: | BOC International, Standard Chartered Bank, Bank of Communications, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Bank of China (Hong Kong), BofA Securities, ANZ, Goldman Sachs (Asia) LLC, UBS, Credit Agricole CIB, Deutsche Bank, CCB International, ICBC, China Everbright Bank Hong Kong Branch, Dongxing Securities (Hong Kong), CMB International, CMB Wing Lung Bank Ltd., J.P. Morgan, Shanghai Pudong Development Bank, Industrial Bank Co., Ltd. Hong Kong Branch, China Industrial Securities International, China International Capital Corp., CMBC Capital, ABC International, China Securities International, Nanyang Commercial Bank, Bison Bank and Everbright Securities International
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| Announcement date: | Nov. 17
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| Listing date: | Nov. 18
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| Rating: | Fitch: A
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| Distribution: | Regulation S
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| 2025 bonds
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| Amount: | $450 million
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| Maturity: | 2025
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| Coupon: | 1 7/8%
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| 2030 bonds
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| Amount: | $300 million
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| Maturity: | 2030
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| Coupon: | 2¾%
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