Published on 8/31/2021 in the Prospect News Emerging Markets Daily.
New Issue: Zhuhai Huafa unit sells $200 million 2.95% bonds due 2025
By William Gullotti
Buffalo, N.Y., Aug. 31 – China’s Zhuhai Huafa Group Co., Ltd. subsidiary Huafa 2020 I Co. Ltd. is listing $200 million of 2.95% guaranteed bonds (//BBB) due 2025, according to a listing notice Tuesday.
The bonds are guaranteed by the parent company.
Haitong International, Guotai Junan International, China Industrial Securities International, China International Capital Corp., CLSA, ICBC International, Bank of Communications, CNCB Capital, Mizuho Securities, SMBC Nikko and Bocom International are the joint global coordinators, joint lead managers and joint bookrunners for the offering.
Also serving as joint lead managers and joint bookrunners are ABC International, Bank of China, CCB International, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Vered Financial, CMB Wing Lung Bank Ltd., CMBC Capital, Huajin International, Industrial Bank Co., Ltd. Hong Kong Branch, Orient Securities (Hong Kong), Shenwan Hongyuan (H.K.), SPDB International and Standard Chartered Bank.
According to Fitch Ratings, proceeds will be used for refinancing offshore debt.
Listing for the Regulation S bonds is expected on the Hong Kong Exchange Sept. 1.
The company is a conglomerate based in Zhuhai, China.
| Issuer: | Huafa 2020 I Co. Ltd.
|
| Guarantor: | Zhuhai Huafa Group Co., Ltd.
|
| Issue: | Guaranteed bonds
|
| Amount: | $200 million
|
| Maturity: | 2025
|
| Bookrunners: | Haitong International, Guotai Junan International, China Industrial Securities International, China International Capital Corp., CLSA, ICBC International, Bank of Communications, CNCB Capital, Mizuho Securities, SMBC Nikko, Bocom International, ABC International, Bank of China, CCB International, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Vered Financial, CMB Wing Lung Bank Ltd., CMBC Capital, Huajin International, Industrial Bank Co., Ltd. Hong Kong Branch, Orient Securities (Hong Kong), Shenwan Hongyuan (H.K.), SPDB International and Standard Chartered Bank
|
| Coupon: | 2.95%
|
| Pricing date: | Aug. 26
|
| Listing date: | Sept. 1
|
| Ratings: | Fitch: BBB
|
| Distribution: | Regulation S
|
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