New Issue: Longchuan lists RMB 750 million 3.58% guaranteed bonds due 2027

Chicago, Jan. 25 – Longchuan Overseas Investment Co., Ltd. listed RMB 750 million of 3.58% credit enhanced guaranteed bonds due 2027, according to an offering document.

The bonds priced at par.

The bonds will be unconditionally and irrevocably guaranteed by Yangzhou Jianghuai Construction Development Co., Ltd.

The bonds are also supported by an irrevocable standby letter of credit issued by Bank of Jiangsu Co., Ltd. Yangzhou Branch.

Guotai Junan International, Haitong International, Citic Securities, China Securities International, Industrial Bank Co., Ltd., Hong Kong Branch, CEB International, China Industrial Securities International, CNCB Capital, Huatai International, Zhongtai International and CMB International are the joint lead managers and joint bookrunners, with Guotai Junan, Haitong and Citic also acting as joint global coordinators. Distribution is through Regulation S.

Proceeds will be used for project construction and to replenish working capital.

The issuer is a special purpose entity and a wholly owned subsidiary of the guarantor. The guarantor is the largest state-owned assets management and infrastructure construction platform in Jiangdu District of China’s Jiangsu Province.

Issuer:	Longchuan Overseas Investment Co., Ltd.
Guarantor:	Yangzhou Jianghuai Construction Development Co., Ltd.
LoC:	Bank of Jiangsu Co., Ltd. Yangzhou Branch
Amount:	RMB 750 million
Issue:	Credit enhanced guaranteed bonds
Maturity:	Jan. 24, 2027
Bookrunners:	Guotai Junan International, Haitong International, Citic Securities (joint global coordinators), China Securities International, Industrial Bank Co., Ltd., Hong Kong Branch, CEB International, China Industrial Securities International, CNCB Capital, Huatai International, Zhongtai International and CMB International
Trustee:	China Construction Bank (Asia) Corp. Ltd.
Counsel to issuer:	Jun He Law Offices (England), Beijing DeHeng Law Offices (China), Ogier (BVI)
Counsel to underwriters:	Deacons (England), Jingtian & Gongcheng (China)
Coupon:	3.58%
Price:	Par
Yield:	3.58%
Call features:	Non-callable except for changes in tax law
Change of control:	At par
Trade date:	Jan. 17
Settlement date:	Jan. 24
Distribution:	Regulation S
ISIN:	HK0000985074

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