Chicago, March 26 – Science City (Guangzhou) Investment Group Co., Ltd. sold a $550 million debut two-part bond deal (//BBB) on Tuesday, according to a notice.
The issuer sold $400 million of three-year notes with a 2.95% coupon.
Also, a second tranche of 3¾% notes sold with a five-year tenor and was sized at $150 million.
This is Science City’s first foray into the international debt market and marketing was conducted via roadshow.
Bookrunners for the offering were Guotai Junan International, HSBC and ABC International.
Also working on the deal were Bocom International, CMB Wing Lung Bank, CNCB Investment, Haiton, ICBC, Luso International Banking Ltd. and SPD Bank.
Proceeds will be used for specific projects, refinancing certain indebtedness and other general corporate purposes, according to Fitch Ratings.
Science City is a state-owned enterprise and operates under the national strategy of the Guangdong-Hong Kong-Macao Greater Bay Area.
| Issuer: | SCI (HK) Development Ltd.
|
| Issue: | Notes
|
| Amount: | $550 million
|
| Bookrunners: | Guotai Junan International, HSBC, ABC International, Bocom International, CMB Wing Lung Bank, CNCB Investment, Haiton, ICBC, Luso International Banking Ltd. and SPD Bank
|
| Trade date: | March 23
|
| Ratings: | Fitch: BBB
|
| Marketing: | Roadshow
|
|
|
| Three-year notes
|
| Amount: | $400 million
|
| Tenor: | Three years
|
| Coupon: | 2.95%
|
|
|
| Five-year notes
|
| Amount: | $150 million
|
| Tenor: | Five years
|
| Coupon: | 3¾%
|
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