New Issue: Zhangzhou Jiulongjiang prices $500 million 4.7% sustainability bonds due 2025

By Marisa Wong

Los Angeles, July 28 – Zhangzhou Jiulongjiang Group Co., Ltd. priced $500 million of 4.7% sustainability bonds due 2025 at 99.448, according to an offering circular.

Guotai Junan Securities (Hong Kong) Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, Bank of China Ltd., CEB International Capital Corp. Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China Industrial Securities International Brokerage Ltd., China International Capital Corp. Hong Kong Securities Ltd., China Securities (International) Corporate Finance Co. Ltd., CLSA Ltd., CMB International Capital Corp. Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co. Ltd., CNCB (Hong Kong) Capital Ltd., Hua Xia Bank Co., Ltd. Hong Kong Branch, Huatai Financial Holdings (Hong Kong) Ltd., Luso International Banking Ltd. and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch are the joint lead managers and joint bookrunners.

Guotai Junan and Industrial Bank are the joint global coordinators for the Regulation S deal.

Guotai Junan is also the green structuring adviser.

Proceeds will be used for refinancing outstanding offshore debt.

The company is based in Zhangzhou, China, and manufactures medicines, daily necessities, cosmetics, machines and food products.

Issuer:	Zhangzhou Jiulongjiang Group Co., Ltd.
Amount:	$500 million
Issue:	Sustainability bonds
Maturity:	July 27, 2025
Bookrunners:	Guotai Junan Securities (Hong Kong) Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, Bank of China Ltd., CEB International Capital Corp. Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China Industrial Securities International Brokerage Ltd., China International Capital Corp. Hong Kong Securities Ltd., China Securities (International) Corporate Finance Co. Ltd., CLSA Ltd., CMB International Capital Corp. Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co. Ltd., CNCB (Hong Kong) Capital Ltd., Hua Xia Bank Co., Ltd. Hong Kong Branch, Huatai Financial Holdings (Hong Kong) Ltd., Luso International Banking Ltd. and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch
Trustee:	Hongkong and Shanghai Banking Corp. Ltd.
Counsel to issuer:	Linklaters (England) and Junzhi Law Firm (China)
Counsel to underwriters:	Freshfields Bruckhaus Deringer (England) and JunHe LLP (China)
Coupon:	4.7%
Price:	99.448
Call option:	At par for tax reasons
Put options:	At 101 upon change of control; at par if no-registration event occurs
Issue date:	July 27
Rating:	Fitch: BBB-
Distribution:	Regulation S
ISIN:	XS2497051289

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