By Rebecca Melvin
Concord, N.H., Dec. 29 – Zhaoqing Gaoyao District State-owned Assets Operation Co. Ltd. issued $48 million of 1.9% one-year credit-enhanced bonds at par, according to an offering circular.
The notes have the benefit of an irrevocable standby letter of credit issued by Bank of Hangzhou Co. Ltd. Shenzhen Branch.
Global coordinator, joint lead manager and joint bookrunner is Guotai Junan International.
China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shanghai Pudong Development Bank Hong Kong Branch, CNCB Capital, CEB International and CLSA also served as joint lead managers and joint bookrunners for the offering, according to the circular published on Tuesday and dated Dec. 20.
The Regulation S bonds are being listed on the Hong Kong Exchange.
The state-owned company operates infrastructure construction and agriculture business assets in the Gaoyao District of Zhaoqing City.
Issuer: | Zhaoqing Gaoyao District State-owned Assets Operation Co. Ltd.
|
Guarantor: | Bank of Hangzhou Co. Ltd. Shenzhen Branch
|
Amount: | $48 million
|
Issue: | Credit-enhanced notes
|
Maturity: | Dec. 23, 2022
|
Bookrunners: | Guotai Junan International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shanghai Pudong Development Bank Hong Kong Branch, CNCB Capital, CEB International and CLSA
|
Counsel to issuer: | Freshfields Bruckhaus Deringer and GuangDong Kingbridge Law Firm
|
Counsel to bookrunners: | Linklaters and JingTian & Gongcheng
|
Coupon: | 1.9%
|
Price: | Par
|
Yield: | 1.9%
|
Issue date: | Dec. 24
|
Distribution: | Regulation S
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.