By William Gullotti
Buffalo, N.Y., Feb. 23 – China’s Shengcheng Culture and Tourism Group International Trade Co., Ltd. sold RMB 79 million of 7.9% one-year guaranteed bonds at par, according to a listing notice and an offering circular on Friday.
The offering is guaranteed by Zoucheng City Shengcheng Culture and Tourism Group Co., Ltd.
Shenwan Hongyuan (H.K.) is the global coordinator, lead manager and bookrunner.
Proceeds will be used to replenish working capital and for other general corporate purposes.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Feb. 23.
Incorporated Jan. 22 in the British Virgin Islands, the issuer is a wholly owned subsidiary of the guarantor. The guarantor is a developer and operator in the cultural tourism and education industries, based and operating in Zoucheng City of China’s Shandong Province.
| Issuer: | Shengcheng Culture and Tourism Group International Trade Co., Ltd.
|
| Guarantor: | Zoucheng City Shengcheng Culture and Tourism Group Co., Ltd.
|
| Amount: | RMB 79 million
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| Issue: | Guaranteed bonds
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| Maturity: | Feb. 20, 2025
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| Bookrunner: | Shenwan Hongyuan (H.K.)
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| Trustee: | China Construction Bank (Asia) Corp., Ltd.
|
| Counsel to underwriter: | Mayer Brown (England, Hong Kong), Zhong Yin Law Offices (China)
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| Coupon: | 7.9%
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| Price: | Par
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| Yield: | 7.9%
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| Call: | For taxation reasons at par
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| Change-of-control: | At 101
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| Pricing date: | Feb. 8
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| Issue date: | Feb. 22
|
| Listing date: | Feb. 23
|
| Distribution: | Regulation S
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| ISIN: | XS2764796798
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