By William Gullotti
Buffalo, N.Y., April 12 – Jiangsu Shuanghu Investment Holding Group Co., Ltd. sold ¥2.9 billion of 1.66% credit enhanced bonds due 2027 at par, according to a listing notice and an offering circular on Friday.
The bonds are supported by an irrevocable standby letter of credit issued by Bank of Nanjing Yancheng Branch.
Fosun International Securities, Citic Securities, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Initial Capital Securities, CMBC Capital, CEB International and CNCB Capital are the joint lead managers and joint bookrunners for the offering, with Fosun also acting as global coordinator.
Proceeds will be used to replenish working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective April 12.
The issuer primarily engages in commercial trading, housing sales, engineering construction and infrastructure construction in China’s Jianhu County.
| Issuer: | Jiangsu Shuanghu Investment Holding Group Co., Ltd.
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| LoC issuer: | Bank of Nanjing Yancheng Branch
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| Amount: | ¥2.9 billion
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| Issue: | Credit enhanced bonds
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| Maturity: | April 11, 2027
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| Bookrunners: | Fosun International Securities, Citic Securities, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Initial Capital Securities, CMBC Capital, CEB International and CNCB Capital
|
| Trustee: | China Citic Bank International Ltd.
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| Counsel to underwriters: | Fangda Partners (Hong Kong), CT Partners (China)
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| Coupon: | 1.66%
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| Price: | Par
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| Yield: | 1.66%
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| Call: | For taxation reasons at par
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| Puts: | At par upon change of control or no registration event
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| Pricing date: | April 2
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| Issue date: | April 11
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| Listing date: | April 12
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| Distribution: | Regulation S
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| ISIN: | XS2794335211
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