New Issue: Yueyang Construction sells $220 million 3.48% bonds due 2026 at par

Chicago, Nov. 29 – Yueyang Construction and Investment Group Co., Ltd. sold $220 million of 3.48% bonds due 2026 (BBB-) at par, according to an offering memo.

Central Wealth Securities Investment Ltd. is the lead joint global coordinator.

Bank of China Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, China Industrial Securities International Brokerage Ltd., CLSA Ltd. and ICBC International Securities Ltd. joined as joint global coordinators.

Shenwan Hongyuan Securities (H.K.) Ltd., CNCB (Hong Kong) Capital Ltd., CMBC Securities Co. Ltd., SunRiver International Securities Group Ltd., TFI Securities and Futures Ltd., Bank of Communications Co., Ltd. Hong Kong Branch and ABCI Capital Ltd. are the joint lead managers and joint bookrunners for the Regulation S issue.

Proceeds will be used for the infrastructure construction of phase II project of innovation and entrepreneurship base in Yueyang Lingang High-tech Industrial Development Zone and to replenish working capital of the group.

The issuer is a state-owned asset management and infrastructure development platform focused on infrastructure development, asset operation and management, social housing construction and land development for the Yueyang government.

Issuer:	Yueyang Construction and Investment Group Co., Ltd.
Amount:	$200 million
Issue:	Bonds
Maturity:	Nov. 24, 2026
Bookrunners:	Central Wealth Securities Investment Ltd., Bank of China Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, China Industrial Securities International Brokerage Ltd., CLSA Ltd., ICBC International Securities Ltd., Shenwan Hongyuan Securities (H.K.) Ltd., CNCB (Hong Kong) Capital Ltd., CMBC Securities Co. Ltd., SunRiver International Securities Group Ltd., TFI Securities and Futures Ltd., Bank of Communications Co., Ltd. Hong Kong Branch and ABCI Capital Ltd.
Trustee:	Bank of New York Mellon, London Branch
Counsel to issuer:	Jun He Law Offices
Counsel to bookrunners:	Herbert Smith Freehills, Hiways Law Firm
Coupon:	3.48%
Price:	Par
Yield:	3.48%
Trade date:	Nov. 19
Settlement date:	Nov. 21
Rating:	Fitch: BBB-
Distribution:	Regulation S
ISIN:	XS2404567963

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