Published on 7/9/2019 in the Prospect News Emerging Markets Daily.
New Issue: Hong Kong’s Haitong sells $700 million 3 3/8% bonds due 2024 at 99.808
By Sarah Lizee
Olympia, Wash., July 9 – Haitong International Securities Group Ltd. sold $700 million of 3 3/8% bonds (Baa2/BBB) due 2024 at 99.808 on Tuesday, according to a notice.
Haitong International Securities Co. Ltd., Hongkongand Shanghai Banking Corp. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial and Commercial Bank of China Ltd., Singapore Branch, Standard Chartered Bank, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications Co., Ltd. Hong Kong Branch, BOSC International Co. Ltd., Haitong Bank, SA, Oversea Chinese Banking Corp. Ltd., Orient Securities (Hong Kong) Ltd., Ping An of China Securities (Hong Kong) Co. Ltd. and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch are the managers for the Regulation S offering.
Proceeds of the Regulation S bonds will be used primarily for refinancing existing debt and general corporate purposes.
The financial services company is based in Hong Kong.
| Issue: | Haitong International Securities Group Ltd.
|
| Issue: | Bonds
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| Amount: | $700 million
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| Maturity: | July 19, 2024
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| Bookrunners: | Haitong International Securities Co. Ltd., Hongkongand Shanghai Banking Corp. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial and Commercial Bank of China Ltd., Singapore Branch, Standard Chartered Bank, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications Co., Ltd. Hong Kong Branch, BOSC International Co. Ltd., Haitong Bank, SA, Oversea Chinese Banking Corp. Ltd., Orient Securities (Hong Kong) Ltd., Ping An of China Securities (Hong Kong) Co. Ltd. and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch
|
| Coupon: | 3 3/8%
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| Price: | 99.808
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| Put option: | At 101 under a change of control
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| Pricing date: | July 9
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| Settlement date: | July 16
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| Rating: | Moody’s: Baa2
|
| S&P: BBB
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| Distribution: | Regulation S
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