New Issue: Xuzhou Economic’s Jinshine prices $390 million 6˝% guaranteed bonds due 2026 at par

By William Gullotti

Buffalo, N.Y., Sept. 28 – Jinshine International Co., Ltd. sold $390 million of 6˝% guaranteed bonds due 2026 at par, according to a listing notice with an appended offering circular on Thursday.

Parent company Xuzhou Economic and Technology Development Zone State-Owned Assets Management Co., Ltd. will guarantee the bonds.

China Securities International, Zhongtai International, Huatai International, Soochow Securities (Hong Kong), CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, China Galaxy International, Shenwan Hongyuan (H.K.), China International Capital Corp., Citic Securities, Hua Xia Bank Co., Ltd., Hong Kong Branch, China Credit International Securities Co., Ltd. and Bocom International are the joint lead managers and joint bookrunners for the offering, with China Securities, Zhongtai, Huatai and Soochow also acting as joint global coordinators.

Proceeds will be used to refinance outstanding offshore debt.

The Regulation S bonds are expected to be listed on the Hong Kong Exchange effective Sept. 28.

Xuzhou Economic and Technology Development is a Xuzhou, China-based real estate construction company.

Issuer:	Jinshine International Co., Ltd.
Guarantor:	Xuzhou Economic and Technology Development Zone State-Owned Assets Management Co., Ltd.
Amount:	$390 million
Issue:	Guaranteed bonds
Maturity:	Sept. 27, 2026
Bookrunners:	China Securities International, Zhongtai International, Huatai International, Soochow Securities (Hong Kong), CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, China Galaxy International, Shenwan Hongyuan (H.K.), China International Capital Corp., Citic Securities, Hua Xia Bank Co., Ltd., Hong Kong Branch, China Credit International Securities Co., Ltd. and Bocom International
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Latham & Watkins LLP (England), Jiangsu Sequoia Law Office (China), Ogier (BVI)
Counsel to underwriters:	Mayer Brown (England, Hong Kong), Grandall Law Firm (Jinan) (China)
Coupon:	6˝%
Price:	Par
Yield:	6˝%
Call:	For taxation reasons at par plus interest
Change-of-control:	At 101 plus interest
Pricing date:	Sept. 20
Issue date:	Sept. 27
Listing date:	Sept. 28
Distribution:	Regulation S
ISIN:	XS2664783565

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