By Devika Patel
Knoxville, Tenn., July 12 – Guangxi Communications Investment Group Corp. Ltd. sold $300 million of 3.95% three-year bonds (//BBB), according to an announcement.
The company reported in a news release that the subscription ratio was 3.1x and that pricing was narrowed by 50 basis points from initial guidance.
Proceeds will be used to repay offshore bonds due in September.
Guangxi Communications is a Nanning, China, investment company that invests in transportation infrastructure, energy, finance and resource development.
| Issuer: | Guangxi Communications Investment Group Corp. Ltd.
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| Description: | Bonds
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| Amount: | $300 million
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| Maturity: | 2025
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| Coupon: | 3.95%
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| Pricing date: | July 5
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| Settlement date: | July 12
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| Rating: | Fitch: BBB
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| ISIN: | XS2499222771
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