By William Gullotti
Buffalo, N.Y., Feb. 8 – China’s Liling Lujiang Investment Holding Group Co., Ltd. sold RMB 536 million 4.6% credit enhanced bonds due 2027 at par, according to a listing notice and an offering circular on Thursday.
The bonds benefit from a standby letter of credit issued by China Bohai Bank Co., Ltd., Changsha Branch.
Dingxin (Securities) Ltd., China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shenwan Hongyuan (H.K.), Huatai International, Citic Securities, Essence International, CNCB Capital, Yuen Meta Securities and Carlyon Securities Ltd. are the placing agents.
Proceeds will be used for project investment, construction funding and replenishing working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Feb. 8.
The issuer is the main investment, financing and operating entity for municipal development in Liling City of China’s Hunan Province.
| Issuer: | Liling Lujiang Investment Holding Group Co., Ltd.
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| LoC issuer: | China Bohai Bank Co., Ltd., Changsha Branch
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| Amount: | RMB 536 million
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| Issue: | Credit enhanced bonds
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| Maturity: | Feb. 7, 2027
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| Placing agents: | Dingxin (Securities) Ltd., China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shenwan Hongyuan (H.K.), Huatai International, Citic Securities, Essence International, CNCB Capital, Yuen Meta Securities and Carlyon Securities Ltd.
|
| Trustee: | China Citic Bank International Ltd.
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| Coupon: | 4.6%
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| Price: | Par
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| Yield: | 4.6%
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| Call: | For taxation reasons at par
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| Puts: | At par for a change of control or no registration event
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| Pricing date: | Jan. 31
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| Issue date: | Feb. 7
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| Listing date: | Feb. 8
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| Distribution: | Regulation S
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| ISIN: | HK0000988052
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