By William Gullotti
Buffalo, N.Y., Dec. 7 – China’s Chongqing Wansheng Industrial Park Development and Construction Co., Ltd. sold RMB 218 million of 7½% bonds due 2026 at par, according to a listing notice with an appended offering circular on Thursday.
China Industrial Securities International, AMC Wanhai Securities, Sino Opulence, JA Securities and Zhonghui International are the joint lead managers and joint bookrunners for the offering, with China Industrial also serving as global coordinator.
Proceeds will be used for project financing and replenishing working capital.
Listing for the Regulation S bonds is expected on the Hong Kong Exchange effective Dec. 7.
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.
|
| Amount: | RMB 218 million
|
| Issue: | Bonds
|
| Maturity: | Dec. 6, 2026
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| Bookrunners: | China Industrial Securities International, AMC Wanhai Securities, Sino Opulence, JA Securities and Zhonghui International
|
| Trustee: | China Construction Bank (Asia) Corp., Ltd.
|
| Counsel to issuer: | Herbert Smith Freehills (England), Chengdu Office of Zhong Lun Law Firm (China)
|
| Counsel to underwriters: | King & Wood Mallesons (England), GrandAll Law Firm (Chongqing) (China)
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| Coupon: | 7½%
|
| Price: | Par
|
| Yield: | 7½%
|
| Call: | For taxation reasons at par
|
| Puts: | At par for a change of control or no-registration event
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| Pricing date: | Dec. 1
|
| Issue date: | Dec. 6
|
| Listing date: | Dec. 7
|
| Distribution: | Regulation S
|
| ISIN: | XS2729855887
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