Chicago, Nov. 16 – China’s Shengzhou Communications Investment and Development Group Co., Ltd. issued RMB 330 million 4.2% credit-enhanced bonds due 2025, according to offering information.
The bonds benefit from an irrevocable standby letter of credit issued by Bank of Nanjing, Hangzhou Branch.
The bonds priced at par.
The sole global coordinator is China International Capital Corp. With the global coordinator, the joint lead managers and joint bookrunners are China Industrial Securities International and China Zheshang Bank Co., Ltd. (Hong Kong Branch).
Proceeds will be used to refinance the group’s debt.
The issuer is a state-owned transport infrastructure construction platform based in Shengzhou City, Zhejiang Province, in China.
| Issuer: | Shengzhou Communications Investment and Development Group Co., Ltd.
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| Amount: | RMB 330 million
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| Issue: | Credit-enhanced bonds
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| Maturity: | Nov. 14, 2025
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| Bookrunners: | China International Capital Corp., China Industrial Securities International and China Zheshang Bank Co., Ltd.
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| Trustee: | CMB Wing Lung (Trustee) Ltd.
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| Counsel to issuer: | Chungs Lawyers, Zhejiang Runhang Law Firm
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| Counsel to underwriters: | Fangda Partners, Commerce & Finance Law Offices
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| Coupon: | 4.2%
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| Price: | Par
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| Yield: | 4.2%
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| Change of control: | At par
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| Trade date: | Nov. 8
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| Settlement date: | Nov. 14
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| Distribution: | Regulation S
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