New Issue: Linyi Eastern City Construction sells RMB 200 million of 7.9% bonds due 2026 at par

By William Gullotti

Buffalo, N.Y., April 17 – China’s Linyi Eastern City Construction Investment Group Co., Ltd. sold RMB 200 million of 7.9% bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.

TF International, Interarch Asset Management Ltd., Shanggu Asset Management (Asia) Ltd., China Galaxy International, CNCB Capital, Wan Lung Securities, JQ Securities, Shanghai Pudong Development Bank Hong Kong Branch, Orient Securities Ltd., Yuan Tong Global Securities, Fortune (HK) Securities Ltd., Wilson Securities, Sigma Capital and China Credit International Securities are the joint lead managers and joint bookrunners for the Regulation S offering, with TF, Interarch, Shanggu, China Galaxy, CNCB and Wan Lung also serving as joint global coordinators.

Proceeds will be used for replenishing working capital, as well as funding the construction of the Dongcheng Intelligent Industrial Park Project of Linyi Jiantou Intelligent Logistics Co., Ltd. and the Linyi Dongcheng Huinong Efficient Industrial Science and Innovation Center Project.

Listing for the bonds is expected on the Chongwa (Macao) Exchange effective April 17.

The issuer is an infrastructure construction platform involved in developing industrial parks and urban renewal projects, based and operating in Hedong District of Linyi City in China’s Shandong Province.

Issuer:	Linyi Eastern City Construction Investment Group Co., Ltd.
Amount:	RMB 200 million
Issue:	Bonds
Maturity:	Oct. 16, 2026
Bookrunners:	TF International, Interarch Asset Management Ltd., Shanggu Asset Management (Asia) Ltd., China Galaxy International, CNCB Capital, Wan Lung Securities, JQ Securities, Shanghai Pudong Development Bank Hong Kong Branch, Orient Securities Ltd., Yuan Tong Global Securities, Fortune (HK) Securities Ltd., Wilson Securities, Sigma Capital and China Credit International Securities
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Tian Yuan Law Firm LLP (England), Hylands Law Firm (China)
Counsel to underwriters:	DeHeng Law Offices (Hong Kong) LLP (England), Allbright Law (Shenzhen) Offices (China)
Coupon:	7.9%
Price:	Par
Yield:	7.9%
Call:	For taxation reasons at par
Puts:	At 101 for a change of control; at par for a no registration event
Pricing date:	April 11
Issue date:	April 16
Listing date:	April 17
Distribution:	Regulation S
ISIN:	XS2797125288

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