By Devika Patel
Knoxville, Tenn., June 21 – New Town Construction Investment (Jizhou, Tianjin) Co., Ltd. issued $70 million of 3.9% credit-enhanced bonds due 2025 at par on June 17, according to an announcement.
The bonds are supported by an irrevocable standby letter of credit issued by China Zheshang Bank Co., Ltd., Tianjin Branch.
China Zheshang Bank Co., Ltd., Hong Kong Branch and Guoyuan Securities (Hong Kong) were joint global coordinators, joint lead managers and bookrunners.
CNCB Capital, Shenwan Hongyuan (H.K.), Haitong International and SunRiver International Securities Group Ltd. were also the joint lead managers and bookrunners.
Tianjin, China-based New Town Construction provides urban construction and other services.
| Issuer: | New Town Construction Investment (Jizhou, Tianjin) Co., Ltd.
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| Amount: | $70 million
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| Issue: | Credit-enhanced bonds
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| Maturity: | 2025
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| Bookrunners: | China Zheshang Bank Co., Ltd., Hong Kong branch, Guoyuan Securities (Hong Kong), CNCB Capital, Shenwan Hongyuan (H.K.), Haitong International and SunRiver International Securities Group Ltd.
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| Coupon: | 3.9%
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| Price: | Par
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| Settlement date: | June 17
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