By William Gullotti
Buffalo, N.Y., Jan. 5 – Shandong Qihe International (Singapore) Pte., Ltd. priced RMB 12 million of 7.8% guaranteed bonds due 2025 at par, according to a listing notice and an offering circular on Friday.
The bonds will be guaranteed by the issuer’s indirect parent, Qihe Urban Investment Construction Group Co., Ltd.
Golden Rich Securities and Haitong International are the joint global coordinators, joint lead managers and joint bookrunners.
Proceeds will be used to replenish working capital and for general corporate purposes.
The latest series of 7.8% guaranteed bonds marks the seventh par-priced guaranteed offering with identical coupons since Sept. 27, including two tap offerings.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Jan. 5.
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.
|
| Guarantor: | Qihe Urban Investment Construction Group Co., Ltd.
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| Amount: | RMB 12 million
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| Issue: | Guaranteed bonds
|
| Maturity: | Jan. 2, 2025
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| Bookrunners: | Golden Rich Securities and Haitong International
|
| 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%
|
| Price: | Par
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| Yield: | 7.8%
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| Call option: | For taxation reasons at par
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| Put options: | At 101 upon change of control; at par if non-registration event occurs
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| Pricing date: | Dec. 29
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| Issue date: | Jan. 4
|
| Listing date: | Jan. 5
|
| Distribution: | Regulation S
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| ISIN: | XS2741758424
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