New Issue: Huai’an Development prices $200 million 5% bonds due 2025 at par

By Rebecca Melvin

New York, April 26 – Xiangyu Investment (BVI) Co., Ltd., a wholly owned subsidiary of Huai’an Development Holdings Co., Ltd., priced $200 million of 5% bonds due 2025 at par, according to an offering circular.

The notes are guaranteed by the parent company.

Haitong International, Huatai International and Guotai Junan International were the joint global coordinators, joint lead managers and joint bookrunners of the Regulation S deal. And Industrial Bank Co. Ltd. Hong Kong Branch, CMBC Capital, CEB International and Guoyuan Capital were also joint lead managers and joint bookrunners.

Based in Huai’an, China, the company provides municipal infrastructure construction and property development services.

Issuer:	Xiangyu Investment (BVI) Co. Ltd.
Guarantors:	Huai’an Development Holdings Co., Ltd.
Amount:	$200 million
Issue:	Guaranteed bonds
Maturity:	April 28, 2025
Bookrunners:	Haitong International, Huatai International, Guotai Junan International, Industrial Bank Co. Ltd. Hong Kong Branch, CMBC Capital, CEB International and Guoyuan Capital
Trustee:	China Construction Bank (Asia) Corp. Ltd.
Counsel to issuer:	Fangda Partners (England), Hylands Law Firm (China) and Conyers Dill & Pearman (British Virgin Islands)
Counsel to underwriters:	King & Wood Mallesons (England) and Jingtian & Gongcheng (China)
Coupon:	5%
Price:	Par
Yield:	5%
Pricing date:	April 25
Issue date:	April 28
Rating:	CCXAP: BBBg-
Distribution:	Regulation S
ISIN:	XS2471384045

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.