Chicago, Aug. 3 – Chengdu Dongjin Huaizhou Xincheng Investment Group Co., Ltd. issued $39 million of 6½% credit-enhanced bonds due 2026 (Lianhe: BBB-), according to an offering document.
The bonds priced at par.
The credit enhancement comes from an irrevocable standby letter of credit issued by Bank of Chengdu Co., Ltd.
The sole global coordinator was Yuan Tong Global Securities.
The joint bookrunners and joint lead managers are Yuan Tong Global Securities, Huatai International, Industrial Bank Co., Ltd. Hong Kong Branch, Essence International, Haitong Bank, Wilson Securities and China Zheshang Bank Co., Ltd. (Hong Kong Branch).
Proceeds will be used for project construction and to replenish working capital.
The issuing group is an operating platform for urban development in Jintang County in China.
| Issuer: | Chengdu Dongjin Huaizhou Xincheng Investment Group Co., Ltd.
|
| Amount: | $39 million
|
| Issue: | Credit-enhanced bonds
|
| Maturity: | Aug. 2, 2026
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| Bookrunners: | Yuan Tong Global Securities (global coordinator), Huatai International, Industrial Bank Co., Ltd. Hong Kong Branch, Essence International, Haitong Bank, Wilson Securities and China Zheshang Bank Co., Ltd. (Hong Kong Branch)
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
|
| Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP and Sheng Tang Law Firm
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| Coupon: | 6½%
|
| Price: | Par
|
| Yield: | 6½%
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| Change of control: | At par
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| Trade date: | July 26
|
| Settlement date: | Aug. 2
|
| Ratings: | Lianhe: BBB-
|
| Distribution: | Regulation S
|
| ISIN: | XS2645241642
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