Chicago, June 15 – Chongqing Nan'an Urban Construction & Development (Group) Co., Ltd. issued $40 million of 4.98% three-year bonds (//BBB) at 99.407, according to an indenture.
The notes will be consolidated and form a single series with the $260 million of the issuer’s existing 4.98% bonds issued on May 6.
The global coordinator was Shenwan Hongyuan (H.K.).
Joint lead managers and joint bookrunners are Shenwan Hongyuan (H.K.), China Securities International, China Industrial Securities International, Guotai Junan International, Industrial Bank Co., Ltd. Hong Kong Branch, Bocom International.
Proceeds will be used to refinance the group’s offshore debt.
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.
|
| Amount: | $40 million
|
| Issue: | Bonds
|
| Maturity: | May 6, 2025
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| Bookrunners: | Shenwan Hongyuan (H.K.), China Securities International, China Industrial Securities International, Guotai Junan International, Industrial Bank Co., Ltd. Hong Kong Branch, Bocom International
|
| Trustee: | Bank of New York Mellon, London Branch
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| Counsel to issuer: | King & Wood Mallesons, SGLA Law Firm
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| Counsel to underwriters: | Linklaters, Grandall Law Firm (Chongqing)
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| Coupon: | 4.98%
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| Price: | 99.407
|
| Call features: | Non-callable
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| Change of control: | At 101
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| Trade date: | May 31
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| Settlement date: | June 6
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| Rating: | Fitch: BBB
|
| Distribution: | Regulation S
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| ISIN: | XS2451515279
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| Total amount outstanding: | $300 million with $260 million issued on May 6
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