New Issue: Zhangzhou Yuanshan Development prints $22 million 5.29% bonds due 2025

Chicago, Sept. 15 – Zhangzhou Yuanshan Development Co. Ltd. issued $22 million of 5.29% credit-enhanced bonds due 2025, according to an offering memo.

The bonds benefit from an irrevocable standby letter of credit issued by Xiamen International Bank Co., Ltd. Zhangzhou Branch.

The leading placing agents were Luso Bank Ltd., Guotai Junan International, Goldbridge, Huaan Securities (Hong Kong) and AMC Wanhai Securities Ltd.

The joint placing agents were China Industrial Securities International and ICBC (Macau).

Proceeds will be used for construction projects in the Zhangzhou High-tech Zone and Yuanshan Science and Technology Park, the Group’s daffodil conservation project and the replenishment of the group’s working capital.

The company is a state-owned enterprise wholly owned by Zhangzhou High-tech Zone Finance Bureau.

Issuer:	Zhangzhou Yuanshan Development Co. Ltd.
Amount:	$22 million
Issue:	Bonds
Maturity:	Sept. 14, 2025
Bookrunners:	Luso Bank Ltd., Guotai Junan International, Goldbridge, Huaan Securities (Hong Kong), AMC Wanhai Securities Ltd., China Industrial Securities International and ICBC (Macau)
Trustee:	Industrial and Commercial Bank of China (Macau) Ltd.
Counsel to issuer:	Jingtian & Gongcheng LLP, Beijing Junzhi Law Firm, MdME Lawyers
Counsel to underwriters:	Freshfields Bruckhaus Deringer, JunHe LLP, Rato, Ling, Lei & Cortes - Advoagdos
Coupon:	5.29%
Price:	Par
Yield:	5.29%
Change of control:	At par
Trade date:	Sept. 8
Settlement date:	Sept. 14
Distribution:	Regulation S
ISIN:	MO0000000071

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