Chicago, July 25 – Chongqing Wansheng Industrial Park Development and Construction Co., Ltd. sold RMB 127.5 million of 4.2% credit-enhanced bonds due 2026 (Golden Credit: AA), according to an offering document.
The bonds priced at par.
Joint global coordinators, joint lead managers and joint bookrunners were China Industrial Securities International and CMBC Capital.
The joint lead managers and joint bookrunners were CCB International, Shenwan Hongyuan (H.K.), CNCB Capital, Caitong International and China Securities International.
Proceeds will be used for project financing and replenishing working capital.
An irrevocable standby letter of credit for the bonds was issued by Chongqing Rural Commercial Bank Co., Ltd.
The issuer is a state-owned enterprise responsible for industrial park development and operation, land development and consolidation within the Chongqing Wansheng Development Zone.
| Issuer: | Chongqing Wansheng Industrial Park Development and Construction Co., Ltd.
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| LoC bank: | Chongqing Rural Commercial Bank Co., Ltd.
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| Amount: | RMB 127.5 million
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| Issue: | Credit-enhanced bonds
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| Maturity: | July 19, 2026
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| Bookrunners: | China Industrial Securities International, CMBC Capital, CCB International, Shenwan Hongyuan (H.K.), CNCB Capital, Caitong International and China Securities International
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| Trustee: | China Construction Bank (Asia) Corp. Ltd.
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| Counsel to issuer: | Herbert Smith Freehills and Chengdu Office of Zhong Lun Law Firm
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| Counsel to underwriters: | King & Wood Mallesons and GrandAll Law Firm (Chongqing)
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| Coupon: | 4.2%
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| Price: | Par
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| Yield: | 4.2%
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| Change of control: | At par
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| Trade date: | July 17
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| Settlement date: | July 19
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| Rating: | Golden Credit: AA
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| Distribution: | Regulation S
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| ISIN: | XS2652348520
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