By William Gullotti
Buffalo, N.Y., July 18 – China’s Zhengjin Financial International (BVI) Co., Ltd., an indirectly wholly owned subsidiary of Jinan Shizhong Finance Investment Group Co., Ltd., issued $100 million of 5.1% one-year guaranteed bonds at 99.617, according to a listing notice with an appended offering circular on Monday.
The bonds are guaranteed by the parent company and may be redeemed early for taxation reasons at par plus interest. Bondholders will be able to exercise put rights at 101 plus interest for a change of control or at par plus interest if a registration event occurs.
Zhongtai International is the global coordinator for the offering, also serving as a joint lead manager and joint bookrunner with CEB International, China Securities International, Shenwan Hongyuan (H.K.), Tensant Securities and Haitong International.
Proceeds will be used for general corporate purposes.
The listing for the Regulation S bonds is expected on the Hong Kong Exchange effective July 18.
The issuer is an indirect wholly owned subsidiary of the guarantor, incorporated in the British Virgin Islands on Jan. 19. Located in China’s Jinan City, the guarantor is a state-owned entity involved in investment, consultation, management and capital operation.
Issuer: | Zhengjin Financial International (BVI) Co., Ltd.
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Guarantor: | Jinan Shizhong Finance Investment Group Co., Ltd.
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Amount: | $100 million
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Issue: | Guaranteed bonds
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Maturity: | July 14, 2023
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Bookrunners: | Zhongtai International, CEB International, China Securities International, Shenwan Hongyuan (H.K.), Tensant Securities and Haitong International
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Trustee: | China Construction Bank (Asia) Corp., Ltd.
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Counsel to issuer: | Patrick Mak & Tse Solicitors (England), Grandall Law Firm (Jinan) (China), Ogier (BVI)
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Counsel to underwriters: | Mayer Brown (England), Commerce & Finance Law Offices (Shanghai) (China)
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Coupon: | 5.1%
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Price: | 99.617
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Call: | For taxation reasons at par plus interest
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Change of control: | At 101 plus interest
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Registration event: | At par plus interest
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Pricing date: | July 8
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Issue date: | July 15
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Listing date: | July 18
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Distribution: | Regulation S
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ISIN: | XS2496653473
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