Published on 1/18/2023 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: China’s Foshan Gaoming sells RMB 600 million 4½% sustainability bonds due 2026
By William Gullotti
Buffalo, N.Y., Jan. 18 – Foshan Gaoming Construction Investment Group Co., Ltd. sold RMB 600 million 4½% sustainability bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.
Guotai Junan International, Goldbridge Securities, China Zheshang Bank Co., Ltd. (Hong Kong Branch), China Industrial Securities International, Caitong International, China International Capital Corp., CMB International and Joy Rich Securities are the joint lead managers and joint bookrunners for the Regulation S offering, with Guotai Junan and Goldbridge also serving as joint global coordinators.
Guotai Junan is also the sustainability structuring adviser.
Proceeds from the offering will be used for financing or refinancing eligible projects in accordance with the issuer’s sustainable finance framework.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective Jan. 18.
The issuer is a state-owned infrastructure construction platform located in China’s Gaoming District.
| Issuer: | Foshan Gaoming Construction Investment Group Co., Ltd.
|
| Amount: | RMB 600 million
|
| Issue: | Sustainability bonds
|
| Maturity: | Jan. 17, 2026
|
| Bookrunners: | Guotai Junan International, Goldbridge Securities, China Zheshang Bank Co., Ltd. (Hong Kong Branch), China Industrial Securities International, Caitong International, China International Capital Corp., CMB International and Joy Rich Securities
|
| Sustainable structuring adviser: | Guotai Junan International
|
| Trustee: | China Central Depository & Clearing Co., Ltd. (as principal paying agent, transfer agent and registrar)
|
| Counsel to issuer: | Jun He Law Offices (England), Tahota Law Firm of Guangzhou (China)
|
| Counsel to underwriters: | Linklaters (England), Jingtian & Gongcheng (China)
|
| Coupon: | 4½%
|
| Price: | Par
|
| Yield: | 4½%
|
| Call: | For taxation reasons at par plus interest
|
| Change of control: | At 101 plus interest
|
| Pricing date: | Jan. 10
|
| Issue date: | Jan. 17
|
| Listing date: | Jan. 18
|
| Distribution: | Regulation S
|
|
|
© 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.
