New Issue: China’s Chengdu Aerotropolis prices RMB 1.2 billion 4½% bonds due 2026 at par

By William Gullotti

Buffalo, N.Y., April 4 – Chengdu Aerotropolis City Development Group Co., Ltd. priced RMB 1.2 billion 4½% bonds due 2026 (Chengxin: BBBg) at par, according to a listing notice and an offering circular on Tuesday.

Essence International, Hung Sing Securities Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, BOSC International, China Industrial Securities International, Dingxin (Securities) Ltd., Guotai Junan International, Wilson Securities, Zheshang International and ABC International are the joint lead managers and joint bookrunners for the offering, with Essence and Hung Sing also acting as joint global coordinators.

Proceeds from the offering will be used for project development and replenishing working capital.

Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective April 4.

The company is a state-owned company formerly known as Chengdu Shuangliu District Transportation Construction Investment Co., Ltd. The group is primarily engaged in aerotropolis city infrastructure project development, city transportation services and city management services in the Shuangliu District and in Chengdu.

Issuer:	Chengdu Aerotropolis City Development Group Co., Ltd.
Issue:	Bonds
Amount:	RMB 1.2 billion
Maturity:	April 3, 2026
Bookrunners:	Essence International, Hung Sing Securities Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, BOSC International, China Industrial Securities International, Dingxin (Securities) Ltd., Guotai Junan International, Wilson Securities, Zheshang International and ABC International
Trustee:	China Central Depository & Clearing Co., Ltd. (as principal paying agent, transfer agent and registrar)
Counsel to issuer:	Freshfields Bruckhaus Deringer (England), Beijing Tianduo Law Firm Chengdu Office (China)
Counsel to underwriters:	Jun He Law Offices (England), Beijing Zhonglun W&D (Chengdu) Law Firm (China)
Coupon:	4½%
Price:	Par
Yield:	4½%
Change of control:	At 101 plus interest
Pricing date:	March 29
Issue date:	April 3
Listing date:	April 4
Rating:	Chengxin: BBBg
Distribution:	Regulation S

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