New Issue: Zhenro Properties sells $200 million 5.95% one-year green bonds at par

By Marisa Wong

Los Angeles, Nov. 12 – China’s Zhenro Properties Group Ltd. priced $200 million of 5.95% senior notes due Nov. 18, 2021 at par on Wednesday, according to a company announcement.

Proceeds from the green bonds will be used to refinance existing debt.

Standard Chartered Bank, Deutsche Bank AG, Singapore Branch, CCB International Capital Ltd., CLSA Ltd., Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd., Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan Securities plc and Zhenro Securities Co. Ltd. are the bookrunners for the Regulation S offering.

The real estate development company is based in Shanghai.

Issuer:	Zhenro Properties Group Ltd.
Issue:	Senior notes (green bonds)
Amount:	$200 million
Maturity:	Nov. 18, 2021
Bookrunners:	Standard Chartered Bank, Deutsche Bank AG, Singapore Branch, CCB International Capital Ltd., CLSA Ltd., Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd., Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan Securities plc and Zhenro Securities Co. Ltd.
Coupon:	5.95%
Price:	Par
Yield:	5.95%
Call:	Make-whole call in whole but not in part at any time
Equity clawback:	Up to 35% at 105.95 at any time
Pricing date:	Nov. 11
Distribution:	Regulation S

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