By William Gullotti
Buffalo, N.Y., March 27 – Sanmenxia Hubin State-Owned Assets Investment and Operation Co., Ltd. priced RMB 100 million of 8˝% bonds due 2025 at par, according to a listing notice and an offering circular on Wednesday.
Tung Yat Securities Ltd., Valuable Capital Ltd., Excellent Tide and Wilson Securities are the placing agents.
Proceeds will be used to repay existing interest-bearing debt and for replenishing working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective March 27.
The issuer is a major infrastructure construction entity in Sanmexia City’s Hubin District, located in China’s Henan Province.
| Issuer: | Sanmenxia Hubin State-Owned Assets Investment and Operation Co., Ltd.
|
| Amount: | RMB 100 million
|
| Issue: | Bonds
|
| Maturity: | March 25, 2025
|
| Placing agents: | Tung Yat Securities Ltd., Valuable Capital Ltd., Excellent Tide and Wilson Securities
|
| Trustee: | China Citic Bank International Ltd.
|
| Coupon: | 8˝%
|
| Price: | Par
|
| Yield: | 8˝%
|
| Call: | For taxation reasons at par plus interest
|
| Puts: | At 101 plus interest for a change of control; at par plus interest for a no registration event
|
| Pricing date: | March 21
|
| Issue date: | March 26
|
| Listing date: | March 27
|
| Distribution: | Regulation S
|
| ISIN: | XS2792698537
|
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