By William Gullotti
Buffalo, N.Y., Aug. 1 – Zibo High-tech International Investment Co., Ltd. priced $54.8 million of 8% guaranteed bonds due 2026 at par, according to a listing notice and an offering circular on Tuesday.
The bonds will be guaranteed by parent company Zibo Hi-Tech State-Owned Capital Investment Co., Ltd.
Initial Capital Securities, Fosun International Securities and Shenwan Hongyuan (H.K.) are the placement agents.
Proceeds will be used for project construction and replenishing working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Aug. 1.
The issuer operates investment management associated with urban infrastructure construction, land development and other services.
Issuer: | Zibo High-tech International Investment Co., Ltd.
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Guarantor: | Zibo Hi-Tech State-Owned Capital Investment Co., Ltd.
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Amount: | $54.8 million
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Issue: | Guaranteed bonds
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Maturity: | March 31, 2026
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Placement agents: | Initial Capital Securities, Fosun International Securities and Shenwan Hongyuan (H.K.)
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Trustee: | China Construction Bank (Asia) Corp., Ltd.
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Counsel to agents: | Fangda Partners (Hong Kong), Yingke Law Firm (China)
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Coupon: | 8%
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Price: | Par
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Yield: | 8%
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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: | July 25
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Issue date: | July 31
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Listing date: | Aug. 1
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Distribution: | Regulation S
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ISIN: | XS2643016293
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