By William Gullotti
Buffalo, N.Y., Nov. 27 – Shandong Qihe International (Singapore) Pte., Ltd. priced RMB 418.5 million of 7.8% guaranteed bonds due 2026 at par, according to a listing notice and an offering circular.
The bonds will be guaranteed by the issuer’s indirect parent, Qihe Urban Investment Construction Group Co., Ltd.
Shenwan Hongyuan (H.K.), Golden Rich Securities, Far East Horizon International and Glory Profit Capital Ltd. are the joint lead managers and joint bookrunners for the offering, with Shenwan, Golden Rich and Far East also acting as joint global coordinators.
Proceeds will be used to finance the Qihe County Intelligent Industrial Park Construction Project and for replenishing working capital.
Listing for the Regulation S bonds became effective on the Chongwa (Macao) Exchange effective Nov. 24.
The issuer is an indirect and wholly owned subsidiary of the guarantor. The guarantor is an infrastructure construction entity based in Qihe County of China’s Shandong Province.
Issuer: | Shandong Qihe International (Singapore) Pte., Ltd.
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Guarantor: | Qihe Urban Investment Construction Group Co., Ltd.
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Amount: | RMB 418.5 million
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Issue: | Guaranteed bonds
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Maturity: | Nov. 23, 2026
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Bookrunners: | Shenwan Hongyuan (H.K.), Golden Rich Securities, Far East Horizon International and Glory Profit Capital Ltd.
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Trustee: | CMB Wing Lung (Trustee) Ltd.
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Counsel to issuer: | Mayer Brown (England, Hong Kong), Tahota Law Firm (China), Mayer Brown PK Wong & Nair Pte. Ltd. (Singapore)
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Counsel to underwriters: | King & Wood Mallesons (England, Hong Kong), Yingke Law Firm (China)
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Coupon: | 7.8%
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Price: | Par
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Yield: | 7.8%
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Call option: | At par for tax reasons
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Put options: | At 101 upon change of control; at par for non-registration event
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Pricing date: | Nov. 20
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Issue date: | Nov. 23
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Listing date: | Nov. 24
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Distribution: | Regulation S
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ISIN: | XS2721299597
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