Published on 3/6/2023 in the Prospect News Emerging Markets Daily.
New Issue: China Jinmao unit issues RMB 2.05 billion 4% notes due 2026 at par
By William Gullotti
Buffalo, N.Y., March 6 – China Jinmao Holdings Group Ltd.’s wholly owned subsidiary Shanghai Jinmao Investment Management Group Co., Ltd. sold RMB 2.05 billion of 4% notes due 2026 at par, according to a listing notice and an offering circular on Monday.
China Securities International, Citic Securities, ABC International, Bank of Communications, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch are the joint lead managers and joint bookrunners for the offering, with China Securities and Citic Securities also acting as joint global coordinators.
Proceeds from the issuance will be used for refinancing existing debt.
Listing for the Regulation S notes is expected on the Chongwa (Macao) Exchange effective March 6.
China Jinmao is a Hong Kong-based investment holding company focused on real estate development in mainland China.
| Issuer: | Shanghai Jinmao Investment Management Group Co., Ltd.
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| Amount: | RMB 2.05 billion
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| Issue: | Notes
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| Maturity: | Jan. 19, 2026
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| Bookrunners: | China Securities International, Citic Securities, ABC International, Bank of Communications, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch
|
| Trustee: | China Central Depository & Clearing Co., Ltd. (as principal paying agent, transfer agent and registrar)
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| Counsel to issuer: | Clifford Chance (England, Hong Kong)
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| Counsel to underwriters: | Linklaters (England, Hong Kong), JunHe LLP (China)
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| Coupon: | 4%
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| Price: | Par
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| Yield: | 4%
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| Call: | For taxation reasons at par
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| Change-of-control put: | At 101
|
| Pricing date: | Jan. 16
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| Issue date: | Jan. 19
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| Listing date: | March 6
|
| Distribution: | Regulation S
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