By Marisa Wong
Morgantown, W.Va., April 26 – China’s Xiamen International Port Co., Ltd. issued RMB 1.2 billion of 4.67% five-year bonds on Thursday, according to a company announcement.
The bonds have a coupon adjustment option and put option at the end of the third year.
China International Capital Corp. Ltd. is the lead underwriter with Orient Citi Securities Ltd. and Wanlian Securities Co., Ltd. as joint underwriters.
This is the company’s first tranche of corporate bonds for 2018. The company will use proceeds to satisfy working capital needs and to adjust its debt structure.
The Xiamen, China-based company is mainly engaged in the provision of port logistics services, trading services of commodities, as well as the sale of construction materials.
| Issuer: | Xiamen International Port Co., Ltd.
|
| Issue: | Corporate bonds, 2018 first tranche
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| Amount: | RMB 1.2 billion
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| Maturity: | Five years
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| Underwriters: | China International Capital Corp. Ltd. (lead); Orient Citi Securities Ltd. and Wanlian Securities Co., Ltd. (joint)
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| Coupon: | 4.67%, adjustable at end of third year
|
| Put option: | At end of third year
|
| Settlement date: | April 26
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