New Issue: China’s Haina Urban prices RMB 558 million of 6.8% guaranteed bonds due 2027

By William Gullotti

Buffalo, N.Y., March 28 – Haina Urban Investment International Holding Ltd. sold RMB 558 million of 6.8% guaranteed bonds due 2027 at par, according to a listing notice and an offering circular on Thursday.

The bonds will be unconditionally guaranteed by parent company Zhoushan Putuo Urban Investment Development and Construction Co., Ltd.

Cinda International, Haitong International, China Galaxy International, Haitong Bank, TF International, CMBC Capital, China Industrial Securities International, Fortune Origin Securities Ltd., Dongxing Securities (Hong Kong), Guolian Securities International, Donghai International, China Securities International, Shenwan Hongyuan (H.K.), CMB Wing Lung Bank Ltd., Huatai International and Gee Hi International Securities (Hong Kong) Ltd. are the joint lead managers and joint bookrunners, with Cinda, Haitong, China Galaxy, Haitong, TF, CMBC, China Industrial Securities and Fortune Origin also acting as joint global coordinators.

Proceeds from the Regulation S offering will be used for project construction and to replenish working capital.

Listing for the bonds is expected on the Chongwa (Macao) Exchange effective March 28.

The issuer is a wholly owned indirect subsidiary of the guarantor, incorporated in the British Virgin Islands on April 7, 2022. The guarantor is controlled by the finance bureau of Putuo District in China’s Zhoushan City, involved in agent construction, trading and facilitating social and economic development.

Issuer:	Haina Urban Investment International Holding Ltd.
Guarantor:	Zhoushan Putuo Urban Investment Development and Construction Co., Ltd.
Amount:	RMB 558 million
Issue:	Guaranteed bonds
Maturity:	March 27, 2027
Bookrunners:	Cinda International, Haitong International, China Galaxy International, Haitong Bank, TF International, CMBC Capital, China Industrial Securities International, Fortune Origin Securities Ltd., Dongxing Securities (Hong Kong), Guolian Securities International, Donghai International, China Securities International, Shenwan Hongyuan (H.K.), CMB Wing Lung Bank Ltd., Huatai International and Gee Hi International Securities (Hong Kong) Ltd.
Trustee:	CMB Wing Lung (Trustee) Ltd.
Counsel to issuer:	DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Zhejiang Z&J Law Firm (China), Ogier (BVI)
Counsel to underwriters:	King & Wood Mallesons (England, Hong Kong), DeHeng Law Offices (China)
Coupon:	6.8%
Price:	Par
Yield:	6.8%
Call:	For taxation reasons at par plus interest
Change of control:	At 101 plus interest
Pricing date:	March 22
Issue date:	March 27
Listing date:	March 28
Distribution:	Regulation S
ISIN:	XS2793580239

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