By William Gullotti
Buffalo, N.Y., June 9 – Chengdu Jianjiang Investment Group Co., Ltd. announced it priced $100 million 4½% credit enhanced bonds due 2025 at par, according to a listing notice with an appended offering circular.
The Regulation S bonds are supported by an irrevocable standby letter of credit issued by Huishang Bank Corp., Ltd.
The issuer may redeem the notes early for taxation reasons at par plus interest. Bondholders will also be able to put the notes at par plus interest if a change of control or registration event occurs.
Fosun Hani, Wilson Securities, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Shenwan Hongyuan (H.K.) and Guoyuan Securities (Hong Kong) are the placing agents for the offering.
Proceeds will be used for domestic project development and replenishing working capital.
The bonds were listed on the Hong Kong Exchange on June 8.
The issuer is an urban construction, investment and financing entity located and operating in Pengzhou, China.
| Issuer: | Chengdu Jianjiang Investment Group Co., Ltd.
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| LoC issuer: | Huishang Bank Corp., Ltd.
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| Amount: | $100 million
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| Issue: | Credit enhanced bonds
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| Maturity: | June 7, 2025
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| Placing agents: | Fosun Hani, Wilson Securities, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Shenwan Hongyuan (H.K.) and Guoyuan Securities (Hong Kong)
|
| Trustee: | China Construction Bank (Asia) Corp., Ltd.
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| Counsel to placing agents: | Herbert Smith Freehills (England), Jingtian & Gongcheng (China)
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| Coupon: | 4½%
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| Price: | Par
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| Yield: | 4½%
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| Call: | For taxation reasons at par plus interest
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| Change of control: | At par plus interest
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| Registration event: | At par plus interest
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| Pricing date: | May 31
|
| Issue date: | June 7
|
| Listing date: | June 8
|
| Distribution: | Regulation S
|
| ISIN: | XS2460576999
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