Chicago, Sept. 12 – Wuhan Jiangxia Agriculture Group Co. Ltd. sold $64 million of 6.9% credit enhanced bonds due 2026, according to an offering document.
The bonds priced at par.
The bonds have the benefit of an irrevocable standby letter of credit issued by Evergrowing Bank Co. Ltd., Wuhan Branch.
China Securities International was the sole global coordinator.
The bank was joined by Industrial Bank Co., Ltd. Hong Kong Branch, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMBC Capital, China International Capital Corp., ICBC International, Shenwan Hongyuan (H.K.) and Haitong Bank as joint lead managers and joint bookrunners.
Proceeds will be used to refinance existing offshore debt.
The issuer is an investment, financing and operating platform for agricultural and urban infrastructure construction.
Issuer: | Wuhan Jiangxia Agriculture Group Co. Ltd.
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LoC issuer: | Evergrowing Bank Co. Ltd., Wuhan Branch
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Amount: | $64 million
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Issue: | Bonds
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Maturity: | Sept. 11, 2026
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Bookrunners: | China Securities International (sole global coordinator), Industrial Bank Co., Ltd. Hong Kong Branch, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMBC Capital, China International Capital Corp., ICBC International, Shenwan Hongyuan (H.K.) and Haitong Bank
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Trustee: | China Construction Bank (Asia) Corp. Ltd.
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Counsel to issuer: | Jun He Law Offices
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Counsel to underwriters: | Linklaters and Tahota (Wuhan) Law Firm
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Coupon: | 6.9%
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Price: | Par
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Yield: | 6.9%
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Trade date: | Sept. 7
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Settlement date: | Sept. 11
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Distribution: | Regulation S
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ISIN: | XS2664783722
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