New Issue: China’s Zhengjin sells $150 million 7.2% guaranteed bonds due 2024

By William Gullotti

Buffalo, N.Y., June 29 – Zhengjin Financial International (BVI) Co., Ltd., an indirectly wholly owned subsidiary of Jinan Shizhong Finance Investment Group Co., Ltd., issued $150 million of 7.2% one-year guaranteed bonds at par, according to a listing notice and an offering circular on Thursday.

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 no registration event occurs.

Zhongtai International, Shenwan Hongyuan (H.K.), CNCB Capital, Soochow Securities (Hong Kong), China Securities International, China Industrial Securities International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Huatai International, Dongxing Securities (Hong Kong), Soochow CSSD Capital Markets (Asia) and China Zheshang Bank Co., Ltd. (Hong Kong Branch) are the joint lead managers and joint bookrunners, with Zhongtai, Shenwan, CNCB and Soochow Securities also acting as joint global coordinators.

Proceeds will be used for general corporate purposes.

The listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective June 29.

The issuer is an indirect wholly owned subsidiary of the guarantor, incorporated in the British Virgin Islands on Jan. 19, 2022. 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.
Guarantor:	Jinan Shizhong Finance Investment Group Co., Ltd.
Amount:	$150 million
Issue:	Bonds
Maturity:	June 26, 2024
Bookrunners:	Zhongtai International, Shenwan Hongyuan (H.K.), CNCB Capital, Soochow Securities (Hong Kong), China Securities International, China Industrial Securities International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Huatai International, Dongxing Securities (Hong Kong), Soochow CSSD Capital Markets (Asia) and China Zheshang Bank Co., Ltd. (Hong Kong Branch)
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Patrick Mak & Tse Solicitors (England), Grandall Law Firm (Jinan) (China), Ogier (BVI)
Counsel to underwriters:	Mayer Brown (England), Commerce & Finance Law Offices (China)
Coupon:	7.2%
Price:	Par
Yield:	7.2%
Call option:	For taxation reasons at par plus interest
Put option:	At 101 plus interest upon change of control; at par plus interest if no registration event occurs
Pricing date:	June 26
Issue date:	June 28
Listing date:	June 29
Distribution:	Regulation S
ISIN:	XS2619663953

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