New Issue: Qingdao Conson sells $500 million 2.8% guaranteed bonds due 2023

By Cady Vishniac

Detroit, Nov. 4 – Qingdao Conson Development (Group) Co., Ltd. subsidiary Haitian (BVI) International Investment Development Ltd. issued $500 million of 2.8% guaranteed bonds due 2023 (BBB/BBB+), according to a notice on Wednesday.

The parent company will act as guarantor on the Regulation S issue.

Bank of China, CNCB Capital and DBS Bank Ltd. acted as joint global coordinators.

Bank of China, CNCB Capital, DBS Bank Ltd., BOC International, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities International, CMB Wing Lung Bank Ltd., Guotai Junan International, Huatai International, Industrial Bank Co., Ltd. Hong Kong Branch, ICBC International, Luso Bank Ltd. and Shanghai Pudong Development Bank Hong Kong Branch acted as joint lead managers and joint bookrunners.

Proceeds will refinance offshore debt and provide overseas investment and working capital, according to Fitch Ratings.

Qingdao, China-based Qingdao Conson invests in finance and ocean development areas. Haitian (BVI) International Investment is its wholly owned subsidiary.

Issuer:	Haitian (BVI) International Investment Development Ltd.
Guarantor:	Qingdao Conson Development (Group) Co., Ltd.
Issue:	Guaranteed bonds
Amount:	$500 million
Maturity:	2023
Bookrunners:	Bank of China, CNCB Capital, DBS Bank Ltd., BOC International, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities International, CMB Wing Lung Bank Ltd., Guotai Junan International, Huatai International, Industrial Bank Co., Ltd. Hong Kong Branch, ICBC International, Luso Bank Ltd. and Shanghai Pudong Development Bank Hong Kong Branch
Coupon:	2.8%
Listing date:	Nov. 5
Ratings:	S&P: BBB
	Fitch: BBB+
Distribution:	Regulation S

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