New Issue: Hefei Industry’s Xianjin unit prices $300 million 5.8% guaranteed bonds due 2026 at par

By William Gullotti

Buffalo, N.Y., Sept. 6 – Xianjin Industry Investment Co. Ltd. sold $300 million of 5.8% guaranteed bonds due 2026 (//BBB) at par, according to a listing notice with an appended offering circular on Wednesday.

The Regulation S bonds are unconditionally and irrevocably guaranteed by Hefei Industry Investment Holding (Group) Co., Ltd.

China International Capital Corp., Citic Securities, CNCB Capital, ICBC International, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Bank of China, Bank of Communications, CEB International, China Galaxy International, China Industrial Securities International, CMBC Capital, ICBC (Macau) and Luso Bank Ltd. are the joint lead managers and joint bookrunners, with China Interntaional, Citic, CNCB, ICBC, Industrial Bank and Shanghai Pudong also acting as joint global coordinators.

Proceeds will be used to refinance medium- to long-term offshore bonds due this month.

Listing for the bonds is expected on the Hong Kong Exchange effective Sept. 6.

Xianjin is an indirect wholly owned unit of Hefei. Based in Hefei, China, Hefei Industry manufactures and distributes resin products.

Issuer:	Xianjin Industry Investment Co. Ltd.
Guarantor:	Hefei Industry Investment Holding (Group) Co., Ltd.
Issue:	Guaranteed bonds
Amount:	$300 million
Maturity:	Sept. 5, 2026
Bookrunners:	China International Capital Corp., Citic Securities, CNCB Capital, ICBC International, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Bank of China, Bank of Communications, CEB International, China Galaxy International, China Industrial Securities International, CMBC Capital, ICBC (Macau) and Luso Bank Ltd.
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Jingtian & Gongcheng LLP (England), Jingtian & Gongcheng (China), Ogier (BVI)
Counsel to underwriters:	Linklaters (England), Beijing Deheng Law Offices (China)
Coupon:	5.8%
Price:	Par
Yield:	5.8%
Call option:	In whole, but not in part, for taxation reasons at par plus interest
Put options:	At 101 plus interest upon change of control; at par plus interest if no-registration event occurs
Pricing date:	Aug. 30
Issue date:	Sept. 5
Listing date:	Sept. 6
Rating:	Fitch: BBB
Distribution:	Regulation S
ISIN:	XS2661083621

© 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.