Published on 12/28/2023 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Chengdu Sino French Ecological prices RMB 300 million 7.9% bonds due 2026 at par
By William Gullotti
Buffalo, N.Y., Dec. 28 – Chengdu Sino French Ecological Park Investment Development Co., Ltd. sold RMB 300 million 7.9% bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.
Orient Securities (Hong Kong), Shanghai Pudong Development Bank Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Guotai Junan International, TradeMaster Securities (Hong Kong) Ltd., CNCB Capital, Fosun International Securities and JQ Securities are the joint lead managers and joint bookrunners, with Orient Securities, Shanghai Pudong and Industrial Bank also acting as joint global coordinators.
Proceeds from the offering will be used for project construction, working capital and general corporate purposes.
Listing for the bonds on the Chongwa (Macao) Exchange became effective Dec. 27.
The issuer is a wholly owned subsidiary of Chengdu Economic Development Industrial Investment Group Co., Ltd. and is responsible for a variety of work in relation to the Sino-French Ecological Park, such as construction plan formulation, construction of infrastructure and public facilities, investment promotion and other relevant services.
| Issuer: | Chengdu Sino French Ecological Park Investment Development Co., Ltd.
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| Amount: | RMB 300 million
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| Issue: | Bonds
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| Maturity: | Dec. 22, 2026
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| Bookrunners: | Orient Securities (Hong Kong), Shanghai Pudong Development Bank Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Guotai Junan International, TradeMaster Securities (Hong Kong) Ltd., CNCB Capital, Fosun International Securities and JQ Securities
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| Trustee: | Bank of New York Mellon, London Branch
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| Counsel to underwriters: | Mayer Brown (England), Tahota Law Firm (China)
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| Coupon: | 7.9%
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| Price: | Par
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| Yield: | 7.9%
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| Call: | For taxation reasons at par plus interest
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| Puts: | At 101 plus interest for a change of control; at par plus interest for a no registration event
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| Pricing date: | Dec. 15
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| Issue date: | Dec. 22
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| Listing date: | Dec. 27
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| Distribution: | Regulation S
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| ISIN: | HK0000976628
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