New Issue: China’s Zibo City issues RMB 1.53 billion 5.8% bonds due 2027 at par

By William Gullotti

Buffalo, N.Y., April 10 – Zibo City Asset Operation Group Co., Ltd. issued RMB 1.53 billion of 5.8% bonds due 2027 at par, according to a listing notice with an appended offering circular on Wednesday.

Wan Lung Securities, TF International, China Galaxy International, Bank of China, Citic Securities, Guolian Securities International, Shanghai Pudong Development Bank Hong Kong Branch, China Industrial Securities International, Huatai International, Shenwan Hongyuan (H.K.), China International Capital Corp., Sinolink Securities (HK), Global Prosperity Financial and Far East Horizon International are the joint lead managers and joint bookrunners for the offering, with Wan Lung, TF, China Galaxy, Bank of China and Citic also acting as joint global coordinators.

Proceeds will be used to fund construction projects and for replenishing working capital.

Listing for the Regulation S bonds is expected on the Hong Kong Exchange effective April 10.

Located and operating in Zibo City of China’s Shandong Province, the state-owned investment, development and operations platform is focused on accelerating the city’s urban development and upgrading its infrastructure.

Issuer:	Zibo City Asset Operation Group Co., Ltd.
Amount:	RMB 1,533,000,000
Issue:	Bonds
Maturity:	April 9, 2027
Bookrunners:	Wan Lung Securities, TF International, China Galaxy International, Bank of China, Citic Securities, Guolian Securities International, Shanghai Pudong Development Bank Hong Kong Branch, China Industrial Securities International, Huatai International, Shenwan Hongyuan (H.K.), China International Capital Corp., Sinolink Securities (HK), Global Prosperity Financial and Far East Horizon International
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Fangda Partners (England), Jingtian & Gongcheng (China)
Counsel to underwriters:	Morgan, Lewis & Bockius (England, Hong Kong), Yinghe LLP Beijing (China)
Coupon:	5.8%
Price:	Par
Yield:	5.8%
Call:	For taxation reasons at par
Puts:	At 101 upon change of control; at par for a no registration event
Pricing date:	March 27
Issue date:	April 9
Listing date:	April 10
Distribution:	Regulation S
ISIN:	HK0001001301

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