By Angela McDaniels
Tacoma, Wash., Sept. 23 – Weichai Power Co., Ltd. priced $400 million of 4 1/8% guaranteed bonds due 2020 at 99.683, according to a company news release.
Subsidiary Weichai International Hong Kong Energy Group Co., Ltd. is the issuer.
Barclays Bank plc, Hongkong and Shanghai Banking Corp. Ltd., Goldman Sachs (Asia) LLC and BOCI Asia Ltd. are the joint lead managers for the Regulation S deal. Barclays is the global coordinator.
The bonds are callable at par plus an applicable premium. They are putable at 101 upon a change of control.
Proceeds will be used to repay offshore bank borrowings and for general working capital.
Weichai Power is a Weifang, China, maker of diesel engines.
| Issuer: | Weichai International Hong Kong Energy Group Co., Ltd.
|
| Guarantor: | Weichai Power Co., Ltd.
|
| Amount: | $400 million
|
| Maturity: | Sept. 30, 2020
|
| Coupon: | 4 1/8%
|
| Price: | 99.683
|
| Joint lead managers: | Barclays Bank plc (global coordinator), Hongkong and Shanghai Banking Corp. Ltd., Goldman Sachs (Asia) LLC and BOCI Asia Ltd.
|
| Call option: | At par plus applicable premium
|
| Put option: | At 101 upon change of control
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 30
|
| Distribution: | Regulation S
|
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