New Issue: China’s Rongshi International sells $300 million 1 7/8% notes due 2026

By Rebecca Melvin

Concord, N.H., Nov. 23 – Rongshi International Finance Ltd. has issued $300 million 1 7/8% notes due 2026 (A2//A+) under a $3 billion medium-term note program guaranteed by China’s State Development & Investment Corp. Ltd., according to a notice from the Hong Kong Stock Exchange.

The program is expected to become effective on Friday.

Bank of China, DBS Bank Ltd., ICBC and JPMorgan are global coordinators for the Regulation S notes and are lead arrangers and bookrunners along with Agricultural Bank of China Ltd., BNP Paribas, China Construction Bank (Asia), China International Capital Corp., CMB International, Essence International, Mizuho Securities Natixis and Standard Chartered Bank.

The issuer is an investment company based in the Virgin Islands.

Issuer:	Rongshi International Finance Ltd.
Guarantor:	State Development & Investment Corp. Ltd.
Amount:	$300 million
Issue:	Notes
Maturity:	2026
Global coordinators:	Bank of China, DBS Bank Ltd., ICBC and JPMorgan
Bookrunners:	Agricultural Bank of China Ltd., BNP Paribas, China Construction Bank (Asia), China International Capital Corp., CMB International, Essence International, Mizuho Securities Natixis and Standard Chartered Bank
Coupon:	1 7/8%
Announcement date:	Nov. 23
Distribution:	Regulation S

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