New Issue: China’s Midea prices $450 million 2.88% notes due 2027 at 99.884

By Marisa Wong

Los Angeles, Feb. 25 – Midea Investment Development Co. Ltd. priced $450 million of 2.88% notes due 2027 (A/A) guaranteed by Midea Group Co., Ltd. at 99.884, according to an offering circular.

BofA Securities, Credit Agricole CIB, Standard Chartered Bank, Bank of China, ICBC (Asia), China Construction Bank (Asia) and DBS Bank are the joint bookrunners and joint lead managers with BofA Securities, Credit Agricole CIB and Standard Chartered Bank as joint global coordinators and joint green financing advisers.

Proceeds will be used to finance or refinance eligible green assets.

Midea operates as a holding company based in Foshan, China, and provides property management, property sales, property development and other services.

Issuer:	Midea Investment Development Co. Ltd.
Guarantor:	Midea Group Co., Ltd.
Amount:	$450 million
Issue:	Notes
Maturity:	Feb. 24, 2027
Bookrunners:	BofA Securities, Credit Agricole CIB, Standard Chartered Bank, Bank of China, ICBC (Asia), China Construction Bank (Asia) and DBS Bank
Coupon:	2.88%
Price:	99.884
Call options:	Make-whole call prior to Jan. 24, 2027 and par call after that; at par for tax reasons
Put options:	At 101 upon change of control; at par if no registration event occurs
Pricing date:	Feb. 16
Settlement date:	Feb. 24
Distribution:	Regulation S
ISIN:	XS2432130453

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