By Marisa Wong
Los Angeles, Jan. 26 – Caofeidian State Holding Investment Group Co. Ltd. issued $100 million of 2.1% credit enhanced bonds due 2024 with the benefit of an irrevocable standby letter of credit issued by China Zheshang Bank Co., Ltd. Beijing Branch, according to a notice.
The Regulation S bonds were priced at par.
STF Investment, Tensant Securities, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMB International, Luso Bank Ltd., Industrial Bank Co., Ltd. Hong Kong Branch and Silk Road International are the joint lead managers and joint bookrunners.
CEB International is the lead global coordinator with STF, Tensant, China Zheshang, CMB and Luso as joint global coordinators.
Proceeds will be used for replenishing working capital.
The company is directly and wholly owned by the Tangshan State-owned Assets Supervision and Administration Commission of China’s Tangshan City.
| Issuer: | Caofeidian State Holding Investment Group Co. Ltd.
|
| LoC issuer: | China Zheshang Bank Co., Ltd. Beijing Branch
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| Issue: | Credit enhanced bonds
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| Amount: | $100 million
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| Maturity: | Dec. 25, 2024
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| Bookrunners: | STF Investment, Tensant Securities, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMB International, Luso Bank Ltd., Industrial Bank Co., Ltd. Hong Kong Branch and Silk Road International
|
| Coupon: | 2.1%
|
| Price: | Par
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| Yield: | 2.1%
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| Call option: | For tax reasons
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| Put option: | Upon change of control or no-registration event
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| Pricing date: | Jan. 18
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| Issue date: | Jan. 25
|
| Distribution: | Regulation S
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| ISIN: | XS2422199708
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