Published on 1/25/2024 in the Prospect News Emerging Markets Daily.
New Issue: Longchuan lists RMB 750 million 3.58% guaranteed bonds due 2027
Chicago, Jan. 25 – Longchuan Overseas Investment Co., Ltd. listed RMB 750 million of 3.58% credit enhanced guaranteed bonds due 2027, according to an offering document.
The bonds priced at par.
The bonds will be unconditionally and irrevocably guaranteed by Yangzhou Jianghuai Construction Development Co., Ltd.
The bonds are also supported by an irrevocable standby letter of credit issued by Bank of Jiangsu Co., Ltd. Yangzhou Branch.
Guotai Junan International, Haitong International, Citic Securities, China Securities International, Industrial Bank Co., Ltd., Hong Kong Branch, CEB International, China Industrial Securities International, CNCB Capital, Huatai International, Zhongtai International and CMB International are the joint lead managers and joint bookrunners, with Guotai Junan, Haitong and Citic also acting as joint global coordinators. Distribution is through Regulation S.
Proceeds will be used for project construction and to replenish working capital.
The issuer is a special purpose entity and a wholly owned subsidiary of the guarantor. The guarantor is the largest state-owned assets management and infrastructure construction platform in Jiangdu District of China’s Jiangsu Province.
Issuer: | Longchuan Overseas Investment Co., Ltd.
|
Guarantor: | Yangzhou Jianghuai Construction Development Co., Ltd.
|
LoC: | Bank of Jiangsu Co., Ltd. Yangzhou Branch
|
Amount: | RMB 750 million
|
Issue: | Credit enhanced guaranteed bonds
|
Maturity: | Jan. 24, 2027
|
Bookrunners: | Guotai Junan International, Haitong International, Citic Securities (joint global coordinators), China Securities International, Industrial Bank Co., Ltd., Hong Kong Branch, CEB International, China Industrial Securities International, CNCB Capital, Huatai International, Zhongtai International and CMB International
|
Trustee: | China Construction Bank (Asia) Corp. Ltd.
|
Counsel to issuer: | Jun He Law Offices (England), Beijing DeHeng Law Offices (China), Ogier (BVI)
|
Counsel to underwriters: | Deacons (England), Jingtian & Gongcheng (China)
|
Coupon: | 3.58%
|
Price: | Par
|
Yield: | 3.58%
|
Call features: | Non-callable except for changes in tax law
|
Change of control: | At par
|
Trade date: | Jan. 17
|
Settlement date: | Jan. 24
|
Distribution: | Regulation S
|
ISIN: | HK0000985074
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.