Chicago, July 26 – China’s Shaoxing City Investment Group Ltd. (//BBB+) priced RMB 500 million of 3.3% bonds due 2025 at par, according to an offering circular.
The notes can be redeemed early at par at the option of the issuer starting April 27, 2025.
Proceeds will be used for general corporate purposes.
The global coordinator is China Industrial Securities International.
The coordinator for China is Haitong Securities Co., Ltd.
The joint lead managers and joint bookrunners are China Industrial Securities International, Guosen Securities (HK), GF Securities, BOSC International, Shanghai Pudong Development Bank Hong Kong Branch and China Zheshang Bank Co., Ltd. (Hong Kong Branch).
Proceeds will be used for general corporate purposes.
The issuer, through its subsidiaries, engages in non-ferrous metal processing, gas supply, urban infrastructure and affordable housing construction.
| Issuer: | Shaoxing City Investment Group Ltd.
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| Amount: | RMB 500 million
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| Issue: | Bonds
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| Maturity: | July 27, 2025
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| Bookrunners: | China Industrial Securities International, Haitong Securities Co., Ltd., Guosen Securities (HK), GF Securities, BOSC International, Shanghai Pudong Development Bank Hong Kong Branch and China Zheshang Bank Co., Ltd. (Hong Kong Branch)
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| Counsel to issuer: | Fangda Partners, Zheijiang Yongda Law Firm
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| Counsel to underwriters: | King & Wood Mallesons, Zhejiang T&C Law Firm
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| Coupon: | 3.3%
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| Price: | Par
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| Yield: | 3.3%
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| Call features: | At par starting April 27, 2025
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| Change of control: | At 101
|
| Trade date: | July 20
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| Settlement date: | July 27
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| Distribution: | Regulation S
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