New Issue: China’s Guangxi Financial prices $150 million 7˝% guaranteed green bonds due 2025

By William Gullotti

Buffalo, N.Y., Nov. 15 – Guangxi Financial Investment Group Co., Ltd. priced $150 million of 7˝% guaranteed green bonds due 2025 (//BBB) at par, according to a listing notice with an appended offering circular on Wednesday.

The notes are guaranteed by the parent company Guangxi Investment Group Co. Ltd.

Guotai Junan International, Bank of Communications, China Citic Bank International, China Galaxy International, ABC International, Bank of China, CCB International, BG Securities, SPDB International, Zhongtai International, China Industrial Securities International, CNCB Capital, Citic Securities, Huatai International and Flow Capital are the joint lead managers and joint bookrunners, with Guotai Junan, Bank of Communications, China Citic, China Galaxy, ABC, Bank of China, CCB and BG also acting as joint global coordinators.

In addition to serving as lead global coordinator, manager and bookrunner, Guotai Junan is also a joint green structuring adviser alongside China Citic Bank.

Proceeds will be used to refinance certain medium- or long-term offshore debt in accordance with the company’s green finance framework.

Listing is expected on the Hong Kong Exchange effective Nov. 15.

The issuer is a Nanning, China, investment company that invests in transportation infrastructure, energy, finance and resource development.

Issuer:	Guangxi Financial Investment Group Co., Ltd.
Guarantor:	Guangxi Investment Group Corp. Ltd.
Amount:	$150 million
Issue:	Guaranteed green bonds
Maturity:	Nov. 14, 2025
Bookrunners:	Guotai Junan International, Bank of Communications, China Citic Bank International, China Galaxy International, ABC International, Bank of China, CCB International, BG Securities, SPDB International, Zhongtai International, China Industrial Securities International, CNCB Capital, Citic Securities, Huatai International and Flow Capital
Green advisers:	China Citic Bank International and Guotai Junan International
Trustee:	Bank of New York Mellon, London Branch
Counsel to issuer:	King & Wood Mallesons (England, Hong Kong), JunHe LLP (China)
Counsel to underwriters:	Linklaters (England, Hong Kong), Jingtian & Gongcheng (China)
Coupon:	7˝%
Price:	Par
Yield:	7˝%
Call:	For taxation reasons at par plus interest
Puts:	At 101 plus interest for change-of-control; at par plus interest for non-registration event
Pricing date:	Nov. 6
Issue date:	Nov. 14
Listing date:	Nov. 15
Rating:	Fitch: BBB
Distribution:	Regulation S
ISIN:	XS2713658537

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