By Rebecca Melvin
Concord, N.H., April 19 – Liangshan Development (Holdings) Group Co. Ltd. issued $204 million of 6½% notes due 2025 (//BBB-) at par, according to an offering circular.
The notes are callable in the event of certain tax changes, and they are putable at 101 upon a change of control.
Proceeds of the notes will be used primarily to repay existing offshore indebtedness.
Orient Securities (Hong Kong), Haitong Bank, Zhongtai International and CNCB Capital are joint global coordinators, joint lead managers and joint bookrunners together with joint lead managers and joint bookrunners Hua Xia Bank Co. Ltd. Hong Kong Branch, Haitong International, Chief Securities Ltd., JQ Securities, Central Wealth Securities Investment Ltd. and Guotai Junan International.
Counsel to the issuer included Fangda Partners and Tahota Law Office.
Counsel to the managers were Allen & Overy and Allbright Law Office.
The issuer focuses on mining and coal production as well as tourism pursuant to the economic and social plan of Liangshan prefecture, China.
Issuer: | Liangshan Development (Holdings) Group Co. Ltd.
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Amount: | $204 million
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Issue: | Notes
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Maturity: | April 22, 2025
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Bookrunners: | Orient Securities (Hong Kong), Haitong Bank, Zhongtai International, CNCB Capital, Hua Xia Bank Co. Ltd. Hong Kong Branch, Haitong International, Chief Securities Ltd., JQ Securities, Central Wealth Securities Investment Ltd. and Guotai Junan International
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Coupon: | 6½%
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Price: | Par
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Yield: | 6½%
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Issue date: | April 22
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Counsel to issuer: | Fangda Partners and Tahota Law Office
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Counsel to managers: | Allen & Overy and Allbright Law Office
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Distribution: | Regulation S
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ISIN: | XS2470873626
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