New Issue: Haitong unit sells RMB 2.8 billion 3.2% guaranteed bonds due 2026 at par

By Mary-Katherine Stinson

Lexington, Ky., May 19 – Haitong International Finance Holdings Ltd. priced RMB 2.8 billion of 3.2% guaranteed bonds due 2026 (BBB) at par, according to an offering circular on Friday.

The Regulation S bonds are guaranteed by parent company Haitong Securities Co., Ltd.

The bonds are non-callable except due to a no-registration event or for taxation reasons, in which case they will be callable at par.

Haitong International Securities Co. Ltd., Haitong Bank, Macau Branch, Bank of China Ltd., BOSC International Securities Ltd., China Citic Bank International Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank are the global coordinators, joint lead managers and joint bookrunners, with Industrial and Commercial Bank of China Ltd., Singapore Branch, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications Co., Ltd. Hong Kong Branch, Bocom International Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMBC Securities Co. Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, SPDB International Capital Ltd., Nanyang Commercial Bank, Ltd., China PA Securities (Hong Kong) Co. Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., CNCB (Hong Kong) Capital Ltd., SMBC Nikko Securities (Hong Kong) Ltd. and Mizuho Securities Asia Ltd. also acting as joint bookrunners and joint lead managers.

Listing is expected on the Hong Kong Stock Exchange effective May 19.

The financial services company is based in Hong Kong. The issuer is incorporated in the British Virgin Islands.

Issuer:	Haitong International Finance Holdings Ltd.
Guarantor:	Haitong Securities Co., Ltd.
Amount:	RMB 2.8 billion
Issue:	Guaranteed bonds
Maturity:	May 18, 2026
Bookrunners:	Haitong International Securities Co. Ltd., Haitong Bank, Macau Branch, Bank of China Ltd., BOSC International Securities Ltd., China Citic Bank International Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank (joint global coordinators), Industrial and Commercial Bank of China Ltd., Singapore Branch, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications Co., Ltd. Hong Kong Branch, Bocom International Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMBC Securities Co. Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, SPDB International Capital Ltd., Nanyang Commercial Bank, Ltd., China PA Securities (Hong Kong) Co. Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., CNCB (Hong Kong) Capital Ltd., SMBC Nikko Securities (Hong Kong) Ltd. and Mizuho Securities Asia Ltd.
Trustee:	Citicorp International Ltd.
Counsel to issuer:	Clifford Chance (England), Allbright Law Offices (China), Ogier (BVI)
Counsel to underwriters:	Linklaters (England), Jia Yuan Law Offices (China)
Coupon:	3.2%
Price:	Par
Yield:	3.2%
Change of control:	At 101 plus interest
Pricing date:	May 10
Issue date:	May 18
Listing date:	May 19
Ratings:	S&P: BBB
Distribution:	Regulation S
ISIN:	HK0000921111

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