New Issue: Shanghai International Port issues $800 million 2.4%, 2.85% bonds

By Sarah Lizee

Olympia, Wash., Sept. 11 – Shanghai International Port (Group) Co., Ltd. issued $800 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 $300 million of 2.4% bonds due 2024 and $500 million of 2.85% bonds due 2029.

CCB International, Bank of Communications, BOSC International, Bank of China, JPMorgan, UBS, DBS Bank Ltd. and ICBC International are joint bookrunners and joint lead arrangers. BOSC, Bank of China, JPMorgan, UBS, DBS and ICBC are also joint global coordinators.

The proceeds will be used to repay debt, Moody’s Investors Service 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:	$800 million
Bookrunners:	CCB International, Bank of Communications, BOSC International, Bank of China, JPMorgan, UBS, DBS Bank Ltd. and ICBC International
Pricing date:	Sept. 4
Listing date:	Sept. 12
Ratings:	Moody’s: A1
	S&P: A+
2024 bonds
Amount:	$300 million
Maturity:	2024
Coupon:	2.4%
2029 bonds
Amount:	$500 million
Maturity:	2029
Coupon:	2.85%

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