By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – Xianjin Industry Investment Co. Ltd. sold $300 million of 2.95% guaranteed notes due 2023 (BBB) at par, according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The notes unconditionally and irrevocably guaranteed Hefei Industry Investment Holding (Group) Co., Ltd.
Guotai Junan International, ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch and Bank of China are the global coordinators for the Regulations S issue and are the joint bookrunners and lead arrangers along with Shanghai Pudong Development Bank Hong Kong Branch, CMB Wing Lung Bank Ltd. and China Minsheng Banking Corp. Ltd. Hong Kong Branch.
Proceeds will be used to refinance offshore debt.
Listing is expected for Friday.
Hefei Industry manufactures and distributes resin products. It is based in Hefei, China.
| Issuer: | Xianjin Industry Investment Co. Ltd.
|
| Guarantor: | Hefei Industry Investment Holding (Group) Co., Ltd.
|
| Issue: | Guaranteed notes
|
| Amount: | $300 million
|
| Maturity: | 2023
|
| Placing agents: | Guotai Junan International, ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch, Bank of China, Shanghai Pudong Development Bank Hong Kong Branch, CMB Wing Lung Bank Ltd. and China Minsheng Banking Corp. Ltd. Hong Kong Branch
|
| Coupon: | 2.95%
|
| Price: | Par
|
| Yield: | 2.95%
|
| Announcement date: | Sept. 24
|
| Listing date: | Sept. 25
|
| Rating: | Fitch: BBB
|
| Distribution: | Regulation S
|
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