New Issue: China’s Wuxi Chengkai prices RMB 660 million 4.28% bonds due 2026

By William Gullotti

Buffalo, N.Y., March 15 – Wuxi Chengkai Industrial Development Group Co., Ltd. priced RMB 660 million of 4.28% bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.

TF International, China Securities International, Industrial Bank Co., Ltd., Hong Kong Branch and Luso Bank Ltd. are the joint lead managers and joint bookrunners for the offering with TF International also serving as global coordinator.

Proceeds will be used for financing construction projects and replenishing working capital.

Listing for the bonds is expected on the Chongwa (Macao) Exchange effective March 15.

Located in Binhu District, Wuxi, Jiangsu Province, China, the issuer is engaged in infrastructure construction, land preparation, resettlement housing construction and property leasing.

Issuer:	Wuxi Chengkai Industrial Development Group Co., Ltd.
Amount:	RMB 660 million
Issue:	Bonds
Maturity:	March 14, 2026
Bookrunners:	TF International, China Securities International, Industrial Bank Co., Ltd., Hong Kong Branch and Luso Bank Ltd.
Trustee:	China Central Depository & Clearing Co., Ltd. (as principal agent, transfer agent and registrar)
Counsel to issuer:	Paul Hastings (Europe) LLP (England), Jiangsu Wuxi Manxiu Law Firm (China)
Counsel to underwriters:	K&L Gates (England), Jiangsu Pinchuan Law Firm (China)
Coupon:	4.28%
Price:	Par
Yield:	4.28%
Call:	At par plus interest for taxation reasons
Put:	At par plus interest upon change of control
Pricing date:	March 8
Issue date:	March 14
Listing date:	March 15
Distribution:	Regulation S

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