Published on 1/29/2024 in the Prospect News Emerging Markets Daily.
New Issue: China’s Nan'an Energy issues RMB 1.05 billion 5.15% bonds due 2027
By William Gullotti
Buffalo, N.Y., Jan. 29 – Nan’an Energy Industry and Trade Investment Development Group Co., Ltd. issued RMB 1.05 billion of 5.15% bonds due 2027 at par, according to an offering circular and a listing notice on Monday.
The bonds may be optionally called or put, in whole but not in part, at par on Jan. 26, 2026.
TF International, Industrial Bank Co., Ltd., Hong Kong Branch, China Securities International, Haitong Bank, China Citic Bank International, Guolian Securities International and Bank of China are the joint lead managers and joint bookrunners for the offering, with TF, Industrial Bank and China Securities also acting as joint global coordinators.
Proceeds will be used for project construction and replenishing working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Jan. 29.
The issuer is the core operating entity for trading, security service, pharmaceutical sales, tap water sales and infrastructure construction in Nan’an of China’s Fujian province.
| Issuer: | Nan’an Energy Industry and Trade Investment Development Group Co., Ltd.
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| Amount: | RMB 1.05 billion
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| Issue: | Bonds
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| Maturity: | Jan. 26, 2027
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| Bookrunners: | TF International, Industrial Bank Co., Ltd., Hong Kong Branch, China Securities International, Haitong Bank, China Citic Bank International, Guolian Securities International and Bank of China
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| Trustee: | China Citic Bank International Ltd.
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| Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Beijing Junzhi Law Firm (China)
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| Coupon: | 5.15%
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| Price: | Par
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| Yield: | 5.15%
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| Calls: | At the issuer’s option, in whole but not in part, at par on Jan. 26, 2026; for taxation reasons at any time at par
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| Puts: | In whole, but not in part, at par on Jan. 26, 2026; at 101 for a change of control; at par for a no registration event
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| Pricing date: | Jan. 19
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| Issue date: | Jan. 26
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| Listing date: | Jan. 29
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| Distribution: | Regulation S
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| ISIN: | HK0000979937
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