By Sarah Lizee
Olympia, Wash., July 13 – Shanghai International Port (Group) Co., Ltd. issued $1 billion of guaranteed bonds (A1/A+) in two tranches via subsidiary Shanghai Port Group (BVI) Development 2 Co., Ltd., according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The subsidiary issued $300 million of 1˝% bonds due 2025 and $700 million of 2 3/8% bonds due 2030.
BOSC International, Bank of China, UBS, J.P. Morgan and BofA Securities are joint global coordinators, as well as joint bookrunners and joint lead managers alongside ICBC International, China Construction Bank, DBS Bank Ltd., Industrial Bank Co., Ltd. Hong Kong Branch and Bank of Communications.
Proceeds will be used to refinance debt and for general corporate purposes.
Listing is expected to become effective Tuesday.
The parent company operates the port of Shanghai.
| Issuer: | Shanghai Port Group (BVI) Development 2 Co., Ltd.
|
| Guarantor: | Shanghai International Port (Group) Co., Ltd.
|
| Issue: | Guaranteed bonds
|
| Amount: | $1 billion
|
| Bookrunners: | BOSC International, Bank of China, UBS, J.P. Morgan, BofA Securities. ICBC International, China Construction Bank, DBS Bank Ltd., Industrial Bank Co., Ltd. Hong Kong Branch and Bank of Communications
|
| Listing date: | July 14
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
|
|
| 2025 bonds
|
| Amount: | $300 million
|
| Maturity: | 2025
|
| Coupon: | 1˝%
|
|
|
| 2030 bonds
|
| Amount: | $700 million
|
| Maturity: | 2030
|
| Coupon: | 2 3/8%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
