By William Gullotti
Buffalo, N.Y., Sept. 18 – Science City (Guangzhou) Investment Group Co., Ltd., via its 75%-owned direct subsidiary Science City (Guangzhou) Financial Leasing Co., Ltd., sold RMB 215 million of 5.8% guaranteed bonds due 2026 at par, according to a listing notice and an offering circular on Monday.
The majority parent will act as guarantor for the bonds.
Dingxin (Securities) Ltd., China Zheshang Bank Co., Ltd. (Hong Kong Branch), Guotai Junan International, Shenwan Hongyuan (H.K.) and Haitong Bank, Macau Branch are the placing agents.
Proceeds will be used for general corporate purposes.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Sept. 18.
Science City is a state-owned enterprise and operates under the national strategy of the Guangdong-Hong Kong-Macao Greater Bay Area.
Issuer: | Science City (Guangzhou) Financial Leasing Co., Ltd.
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Guarantor: | Science City (Guangzhou) Investment Group Co., Ltd.
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Amount: | RMB 215 million
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Issue: | Guaranteed bonds
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Maturity: | Sept. 15, 2026
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Placing agents: | Dingxin (Securities) Ltd., China Zheshang Bank Co., Ltd. (Hong Kong Branch), Guotai Junan International, Shenwan Hongyuan (H.K.) and Haitong Bank, Macau Branch
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PRC coordinator: | Haitong Securities Co., Ltd.
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Trustee: | China Construction Bank (Asia) Corp., Ltd.
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Counsel to issuer: | Kangda (GuangZhou) Law Firm (China)
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Counsel to agents: | Latham & Watkins LLP (England)
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Coupon: | 5.8%
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Price: | Par
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Yield: | 5.8%
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Call: | For taxation reasons at par plus interest
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Puts: | At 101 plus interest for a change of control; at par plus interest if a no registration event occurs
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Pricing date: | Sept. 12
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Issue date: | Sept. 15
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Listing date: | Sept. 18
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Distribution: | Regulation S
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ISIN: | XS2680393258
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