New Issue: Zhongyuan Yuzi unit sells $300 million 3.2% guaranteed bonds due 2026

By William Gullotti

Buffalo, N.Y., July 6 – Zhongyuan Zhicheng Co., Ltd., a subsidiary of Zhongyuan Yuzi Investment Holding Group Co., Ltd., priced $300 million of 3.2% guaranteed bonds (A2) due 2026, according to a notice of listing on the Stock Exchange of Hong Kong Ltd.

The bonds are guaranteed by Zhongyuan Yuzi Investment Holding Group Co., Ltd.

The joint global coordinators are Bank of China and Credit Suisse.

They are joined as joint lead managers and joint bookrunners by China Citic Bank International, China Minsheng Banking Corp., Ltd. Hong Kong Branch, Hua Xia Bank Co., Ltd. Hong Kong Branch, Sheng Yuan Securities, China Merchants Securities (HK), CBM International, Bocom International, China International Capital Corp., Guotai Junan International, China Industrial Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMBC Capital and China Everbright Bank Hong Kong Branch.

Zhongyuan Yuzi will use the proceeds to refinance offshore and to invest in low-income housing projects, infrastructure and manufacturing projects in Henan.

Proceeds will be used to partly refinance offshore debt due within one year, with the balance to invest in low-income housing projects, infrastructure and manufacturing projects in Henan, according to Moody’s Investors Service.

The company is based in Henan Province, China.

Issuer:	Zhongyuan Zhicheng Co., Ltd.
Guarantor:	Zhongyuan Yuzi Investment Holding Group Co., Ltd.
Issue:	Guaranteed bonds
Amount:	$300 million
Maturity:	2026
Bookrunners:	Bank of China, Credit Suisse, China Citic Bank International, China Minsheng Banking Corp., Ltd. Hong Kong Branch, Hua Xia Bank Co., Ltd. Hong Kong Branch, Sheng Yuan Securities, China Merchants Securities (HK), CBM International, Bocom International, China International Capital Corp., Guotai Junan International, China Industrial Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMBC Capital and China Everbright Bank Hong Kong Branch
Coupon:	3.2%
Pricing date:	June 25
Listing date:	July 7
Rating:	Moody’s: A2

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