By Marisa Wong
Los Angeles, Feb. 9 – Far East Horizon Ltd. issued RMB 1.7 billion of 4.7% notes due 2024 (BBB-), according to a notice.
The company priced an initial RMB 1.5 billion of the notes on Feb. 2 and an additional RMB 200 million on Feb. 4.
China Citic Bank International, China International Capital Corp., Standard Chartered Bank, CMB Wing Lung Bank Ltd., Guotai Junan International, OCBC Bank and Shanghai Pudong Development Bank Hong Kong Branch were joint bookrunners and joint lead managers for the initial tranche.
Standard Chartered Bank was the lead manager for the tap issue.
The Regulation S notes were issued under the company’s $4 billion medium-term note and perpetual securities program.
The notes will be listed on the Stock Exchange of Hong Kong Ltd. on Wednesday.
Far East Horizon is a financial leasing unit of Sinochem Group, which is a Hong Kong-based business conglomerate with interests in agriculture, energy, chemicals, real estate and finance.
| Issuer: | Far East Horizon Ltd.
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| Issue: | Notes
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| Amount: | RMB 1.7 billion
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| Maturity: | 2024
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| Bookrunners: | China Citic Bank International, China International Capital Corp., Standard Chartered Bank, CMB Wing Lung Bank Ltd., Guotai Junan International, OCBC Bank and Shanghai Pudong Development Bank Hong Kong Branch (for initial RMB 1.5 billion tranche); Standard Chartered Bank (for RMB 200 million add-on)
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| Coupon: | 4.7%
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| Pricing date: | Feb. 2 for RMB 1.5 billion, Feb. 4 for RMB 200 million
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| Listing date: | Feb. 10
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| Listing: | Stock Exchange of Hong Kong Ltd.
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| Rating: | BBB-
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| Distribution: | Regulation S
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