New Issue: China’s Hangzhou Linjiang unit prices $300 million 7.1% guaranteed notes due 2025

By William Gullotti

Buffalo, N.Y., Nov. 29 – Hangzhou Linjiang Investment Development Co. Ltd. subsidiary Linjiang Investment and Development (BVI) Co., Ltd. priced $300 million of 7.1% guaranteed notes due 2025 at par, according to a listing notice with an appended offering circular on Tuesday.

The Regulation S notes will be issued by the subsidiary and guaranteed by the parent.

Haitong International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd., Bank of China, Huatai International, China Securities International, Citic Securities, Founder Securities (Hong Kong), Everbright Securities International, China Enterprise Securities, Dingxin (Securities) Ltd., Caitong International, Zhongtai International, CCB International and Fosun Hani are the joint lead managers and joint bookrunners.

Haitong is also the global coordinator, and Caitong Securities is the PRC adviser.

Proceeds will be used to repay debt.

Listing for the notes is expected on the Hong Kong Exchange effective Nov. 29.

Hangzhou Linjiang Investment Development operates ports and harbors. It is based in Hangzhou, China.

Issuer:	Linjiang Investment and Development (BVI) Co., Ltd.
Guarantor:	Hangzhou Linjiang Investment Development Co. Ltd.
Amount:	$300 million
Issue:	Guaranteed notes
Maturity:	Nov. 28, 2025
Bookrunners:	Haitong International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd., Bank of China, Huatai International, China Securities International, Citic Securities, Founder Securities (Hong Kong), Everbright Securities International, China Enterprise Securities, Dingxin (Securities) Ltd., Caitong International, Zhongtai International, CCB International and Fosun Hani
PRC adviser:	Caitong Securities
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Chungs Lawyers in association with DeHeng Law Offices (England), T&C Law Firm (China), Ogier (BVI)
Counsel to underwriters:	Ashurst Hong Kong (England), DeHeng Law Offices (China)
Coupon:	7.1%
Price:	Par
Yield:	7.1%
Call:	For taxation reasons at par plus interest
Put:	At 101 for a change of control
Pricing date:	Nov. 23
Issue date:	Nov. 28
Listing date:	Nov. 29
Distribution:	Regulation S
ISIN:	XS2548194096

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