By Rebecca Melvin
Concord, N.H., May 27 – Zhongrong International Bond 2022 Ltd. sold $190 million 6.8% guaranteed notes due May 26, 2023, according to a listing notice.
The issuer is a subsidiary of Zhongrong International Holdings Ltd.
S&P revised its outlook on the holding company to negative from stable, but affirmed the company’s BB- rating, according to a rating agency press release last week. It cited heightened investment risk, persistently weak liquidity and slow development of the asset management business amid rising interest rates.
The notes were issued on Friday and are expected to be listed on the Singapore Exchange on Monday.
The investment firm is based in Hong Kong.
| Issuer: | Zhongrong International Bond 2022 Ltd.
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| Guarantor: | Zhongrong International Holdings Ltd.
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| Amount: | $190 million
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| Issue: | Notes
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| Maturity: | May 26, 2023
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| Coupon: | 6.8%
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| Issue date: | May 26
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| Listing date: | May 30
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| ISIN: | XS2483885955
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