New Issue: Nanning Communications issues $300 million 3½% notes due 2024

By William Gullotti

Buffalo, N.Y., May 27 – Nanning Communications Investment Group Co., Ltd. priced $300 million of 3½% notes (//BBB-) due 2024, according to an announcement Thursday.

The joint global coordinators, lead managers and bookrunners are Bocom International, Hua Xia Bank Co., Ltd. Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, CEB International and Bank of China.

They are joined by joint lead managers and bookrunners CNCB Capital, China International Capital Corp., CCB International, Guotai Junan International and Central Wealth Securities Investment Ltd.

The company is a government-related entity and major urban developer wholly owned by the Nanning municipal government's Nanning State-owned Assets Supervision and Administration Commission. It plays an important role in urban and transportation infrastructure development, energy and resources, and operates essential public services.

Issuer:	Nanning Communications Investment Group Co., Ltd.
Issue:	Notes
Amount:	$300 million
Maturity:	2024
Bookrunners:	Bocom International, Hua Xia Bank Co., Ltd. Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, CEB International, Bank of China, CNCB Capital, China International Capital Corp., CCB International, Guotai Junan International, Central Wealth Securities Investment Ltd.
Coupon:	3½%
Pricing date:	May 20
Listing date:	May 28
Rating:	Fitch: BBB-

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