By Mary-Katherine Stinson
Lexington, Ky., Jan. 17 – Chongqing Bazhou Cultural Tourism Industry Group Co., Ltd. sold RMB 428 million 4.3% credit-enhanced bonds due 2026, according to a term sheet.
The bonds priced at par.
There is an irrevocable standby letter of credit from Industrial and Commercial Bank of China Ltd., Chongqing Branch.
Central Wealth Securities Investment Ltd. was the lead global coordinator. China International Capital Corp. was listed as a joint global coordinator.
The joint lead managers and joint bookrunners were ICBC International, ICBC (Asia), Hua Xia Bank Co., Ltd. Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch and China Industrial Securities International.
Proceeds will be used for supplemental working capital.
Listing for the bonds is expected on the Singapore Exchange effective Jan. 17.
The 2012-established company is a key state-owned entity for infrastructure construction, investment and financing in the Banan District, Chongqing.
| Issuer: | Chongqing Bazhou Cultural Tourism Industry Group Co., Ltd.
|
| LoC issuer: | Industrial and Commercial Bank of China Ltd., Chongqing Branch
|
| Amount: | RMB 428 million
|
| Issue: | Credit-enhanced bonds
|
| Maturity: | Jan. 16, 2026
|
| Bookrunners: | Central Wealth Securities Investment Ltd., China International Capital Corp. (global coordinators), ICBC International, ICBC (Asia), Hua Xia Bank Co., Ltd. Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch and China Industrial Securities International
|
| Trustee: | Industrial and Commercial Bank of China (Asia) ltd.
|
| Counsel to issuer: | Fangda Partners, Jingsheng Law Firm
|
| Counsel to underwriters: | Ashurst Hong Kong, Hiways Law Firm
|
| Coupon: | 4.3%
|
| Price: | Par
|
| Yield: | 4.3%
|
| Change of control: | At par
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 16
|
| Distribution: | Regulation S
|
| ISIN: | XS2556913502
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
