New Issue: Shanghai International Port issues $700 million 2 7/8%, 3 3/8% bonds

By Angela McDaniels

Tacoma, Wash., June 18 – Shanghai International Port (Group) Co., Ltd. issued $700 million of guaranteed bonds (A1/A+) in two tranches via subsidiary Shanghai Port Group (BVI) Development Co., Ltd., according to a notice of listing on the Stock Exchange of Hong Kong Ltd.

The subsidiary issued $400 million of 2 7/8% bonds due 2024 and $300 million of 3 3/8% bonds due 2029.

The joint global coordinators were BOSC International, Bank of China, JPMorgan and UBS. Joining them as joint bookrunners and joint lead managers were DBS Bank Ltd., ICBC International, CCB International, Bank of Communications, Bank of America Merrill Lynch and Industrial Bank Co., Ltd., Hong Kong Branch.

The proceeds from the issuance will be used for refinancing and general corporate purposes, S&P said.

The parent company operates the port of Shanghai.

Issuer:	Shanghai Port Group (BVI) Development Co., Ltd.
Guarantor:	Shanghai International Port (Group) Co., Ltd.
Issue:	Guaranteed bonds
Amount:	$700 million
Bookrunners:	BOSC International, Bank of China, JPMorgan and UBS, DBS Bank Ltd., ICBC International, CCB International, Bank of Communications, Bank of America Merrill Lynch and Industrial Bank Co., Ltd., Hong Kong Branch
Pricing date:	June 11
Listing date:	June 19
Ratings:	Moody’s: A1
	S&P: A+
2024 bonds
Amount:	$400 million
Maturity:	2024
Coupon:	2 7/8%
2029 bonds
Amount:	$300 million
Maturity:	2029
Coupon:	3 3/8%

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