By William Gullotti
Buffalo, N.Y., June 23 – Qingtian County State-owned Assets Holding Group Co., Ltd. sold RMB 500 million of 4.6% bonds due 2026 at par, according to a listing notice and an offering circular on Friday.
Caitong International, Guotai Junan International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shenwan Hongyuan (H.K.) and Zhongtai International are the joint lead managers and joint bookrunners for the offering.
Guotai and Caitong are also the joint global coordinators, with Guotai also acting as a PRC coordinator with Caitong Securities.
Proceeds from the offering will be used for project funding and replenishing working capital.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective June 23.
Based in China’s Qingtian County, the issuer is involved in land development and consolidation, urban infrastructure construction and public utility operation.
Issuer: | Qingtian County State-owned Assets Holding Group Co., Ltd.
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Amount: | RMB 500 million
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Issue: | Bonds
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Maturity: | June 21, 2026
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Bookrunners: | Caitong International, Guotai Junan International (joint global coordinators), China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shenwan Hongyuan (H.K.) and Zhongtai International
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PRC coordinators: | Guotai Junan and Caitong Securities
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Trustee: | CMB Wing Lung (Trustee) Ltd.
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Counsel to issuer: | Jun He Law Offices (England), Zhong Lun Law Firm (China)
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Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP (England), Beijing DeHeng Law Offices (China)
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Coupon: | 4.6%
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Price: | Par
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Yield: | 4.6%
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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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Pricing date: | June 16
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Issue date: | June 21
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Listing date: | June 23
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Distribution: | Regulation S
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