Published on 8/25/2021 in the Prospect News Emerging Markets Daily.
New Issue: Shandong Gold unit sells $600 million of bonds in two tranches due 2024, 2026
By William Gullotti
Buffalo, N.Y., Aug. 25 – SDG Finance Ltd., a special purpose financing subsidiary of Shandong Gold Group Co. Ltd., sold $600 million of guaranteed bonds (BBB-) in two tranches due 2024 and 2026, according to a listing notice Wednesday.
The bonds are guaranteed by the parent company.
The first tranche of bonds, due 2024, is $300 million 2.4% guaranteed bonds.
The company also priced a tranche of $300 million 2.8% bonds due 2026.
Bank of China, CLSA, ICBC International, Mizuho Securities, SDG Securities (HK) and Standard Chartered Bank are the joint global coordinators, joint lead managers and joint bookrunners for the offering.
Listed as active joint lead managers and joint bookrunners are ABC International, ANZ, DBS Bank Ltd. and Haitong International.
BOC International, Bank of Communications, Bocom International, Barclays, Crédit Agricole CIB, CCB International, China Citic Bank International, China Everbright Bank Hong Kong Branch, China International Capital Corp., China Industrial Securities International, CMBC Capital, CMB Wing Lung Bank Ltd., China Minsheng Banking Corp. Ltd. Hong Kong Branch, Donghai International, Everbright Securities International, Guotai Junan International, Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, Société Générale CIB, SMBC Nikko, Shanghai Pudong Development Bank Hong Kong Branch, SPDB International, TF International and Zhongtai International are also joint lead managers and joint bookrunners.
Listing on the Hong Kong Exchange for the Regulation S bonds is expected on Aug. 26.
According to S&P Global Ratings, the proceeds will be used to refinance certain debt of the group and for general corporate purposes.
Based in Jinan, China, Shandong Gold is a state-owned gold mining company.
| Issuer: | SDG Finance Ltd.
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| Guarantor: | Shandong Gold Group Co. Ltd.
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| Issue: | Guaranteed bonds
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| Bookrunners: | Bank of China, CLSA, ICBC International, Mizuho Securities, SDG Securities (HK), Standard Chartered Bank, ABC International, ANZ, DBS Bank Ltd., Haitong International, BOC International, Bank of Communications, Bocom International, Barclays, Crédit Agricole CIB, CCB International, China Citic Bank International, China Everbright Bank Hong Kong Branch, China International Capital Corp., China Industrial Securities International, CMBC Capital, CMB Wing Lung Bank Ltd., China Minsheng Banking Corp. Ltd. Hong Kong Branch, Donghai International, Everbright Securities International, Guotai Junan International, Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, Société Générale CIB, SMBC Nikko, Shanghai Pudong Development Bank Hong Kong Branch, SPDB International, TF International and Zhongtai International
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| Pricing date: | Aug. 19
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| Listing date: | Aug. 26
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| Ratings: | S&P: BBB-
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| Distribution: | Regulation S
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| 2024 bonds
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| Amount: | $300 million
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| Maturity: | 2024
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| Coupon: | 2.4%
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| 2026 bonds
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| Amount: | $300 million
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| Maturity: | 2026
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| Coupon: | 2.8%
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