Published on 6/10/2021 in the Prospect News Emerging Markets Daily.
New Issue: Chongqing Nan'an Urban sells $350 million of 4.56% bonds due 2026
By William Gullotti
Buffalo, N.Y., June 10 – Chongqing Nan'an Urban Construction & Development (Group_ Co., Ltd. issued $350 million of 4.56% bonds due June 10, 2026 (BBB), according to a notice Thursday.
Bank of China Ltd., Singapore Branch, Orient Securities (Hong Kong) Ltd., Bank of China Ltd. and CEB International Capital Corp., Ltd. are the lead managers and bookrunners.
Proceeds will be used to repay offshore debt, according to S&P Global Ratings.
The issuer is based in Chongqing, China, and engages in the land development, infrastructure construction, property leasing and management, loan financing, supply-chain finance, and other businesses.
Issuer: | Chongqing Nan'an Urban Construction & Development (Group) Co., Ltd.
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Issue: | Bonds
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Amount: | $350 million
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Maturity: | June 10, 2026
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Bookrunners: | Bank of China Ltd., Singapore Branch, Orient Securities (Hong Kong) Ltd., Bank of China Ltd. and CEB International Capital Corp., Ltd.
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Coupon: | 4.56%
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Settlement date: | June 10
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Listing date: | June 11
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Rating: | S&P: BBB
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