Chicago, Dec. 5 – Dongtai State-owned Assets Operation Group Co., Ltd. sold RMB 310 million of 4.4% credit-enhanced bonds due 2025, according to a bank document.
The bonds benefit from an irrevocable standby letter of credit issued by Bank of Nanjing, Yancheng Branch.
The bonds priced at par.
The joint global coordinators are Sinolink Securities (HK) and Fosun Hani.
The joint bookrunners and joint lead managers also include Initial Capital Securities, Industrial Bank Co., Ltd., Hong Kong Branch, Citic Securities, Shenwan Hongyuan (H.K.), Guoyuan Securities (Hong Kong), Dingxin (Securities) Ltd. and China Industrial Securities International.
Proceeds will be used for project construction and investment and working capital replenishment.
Operating in Dongtai City, the group consists of four segments, namely: agent construction, sale of agricultural products, assets leasing and contracting and tourist area operations.
| Issuer: | Dongtai State-owned Assets Operation Group Co., Ltd.
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| Amount: | RMB 310 million
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| Issue: | Credit-enhanced bonds
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| Maturity: | Dec. 2, 2025
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| Bookrunners: | Sinolink Securities (HK), Fosun Hani, Initial Capital Securities, Industrial Bank Co., Ltd., Hong Kong Branch, Citic Securities, Shenwan Hongyuan (H.K.), Guoyuan Securities (Hong Kong), Dingxin (Securities) Ltd. and China Industrial Securities International
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
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| Counsel to issuer: | Jiangsu Fenglu Law Firm
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| Counsel to underwriters: | Fangda Partners and Shandong Ehen Law Firm
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| Coupon: | 4.4%
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| Price: | Par
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| Yield: | 4.4%
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| Change of control: | At par
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| Trade date: | Nov. 25
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| Settlement date: | Dec. 2
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