By Rebecca Melvin
Concord, N.H., Jan. 19 – Jiangsu Ruihai Investment Holding Group Co. Ltd. priced $100 million of 1.9% credit-enhanced bonds due 2023 at par, according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The notes have the benefit of an irrevocable standby letter of credit issued by Bank of Shanghai Co. Ltd. Nanjing Branch.
They may be redeemed at par upon a change of control.
Joint global coordinators, joint lead managers and joint bookrunners are AMC Wanhai Securities Ltd. and Bocom International. They are joined by Industrial Bank Co. Ltd. Hong Kong Branch, CMB Wing Lung Bank Ltd. and Zheshang International Financial Holdings Co. Ltd. as joint lead managers and joint bookrunners.
Proceeds will be used for refinancing debt and replenishing working capital.
The state-owned company is involved in construction and sale of affordable housing and infrastructure construction.
| Issuer: | Jiangsu Ruihai Investment Holding Group Co. Ltd.
|
| Amount: | $100 million
|
| Issue: | Credit-enhanced bonds
|
| Maturity: | Jan. 17, 2023
|
| Joint bookrunners: | AMC Wanhai Securities Ltd., Bocom International, Industrial Bank Co. Ltd. Hong Kong Branch, CMB Wing Lung Bank Ltd. and Zheshang International Financial Holdings Co. Ltd.
|
| Coupon: | 1.9%
|
| Price: | Par
|
| Yield: | 1.9%
|
| Pricing date: | Jan. 12
|
| Distribution: | Regulation S
|
| ISIN: | XS2422238494
|
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