By William Gullotti
Buffalo, N.Y., May 11 – Tianjin Lingang Investment Holding Co., Ltd. priced RMB 460 million of 6.6% notes due 2026 at par, according to a listing notice and an offering circular on Thursday.
Central Wealth Securities Investment Ltd., SunRiver International Securities Group Ltd. and China Zheshang Bank Co., Ltd. (Hong Kong Branch) are the joint lead managers and joint bookrunners for the offering, with Central Wealth and SunRiver also acting as joint global coordinators.
Proceeds will be used to refinance existing debt.
Listing for the Regulation S notes is expected on the Chongwa (Macao) Exchange effective May 11.
Tianjin Lingang is a Tianjin, China-based provider of municipal engineering construction and other services.
| Issuer: | Tianjin Lingang Investment Holding Co., Ltd.
|
| Amount: | RMB 460 million
|
| Issue: | Notes
|
| Maturity: | May 10, 2026
|
| Bookrunners: | Central Wealth Securities Investment Ltd., SunRiver International Securities Group Ltd. and China Zheshang Bank Co., Ltd. (Hong Kong Branch)
|
| Trustee: | China Central Depository & Clearing Co., Ltd. (as principal paying agent, transfer agent and registrar)
|
| Counsel to issuer: | Herbert Smith Freehills (England), Winners Law Firm (China)
|
| Counsel to underwriters: | Jun He Law Offices (England), Beijing Yingke Law Firm Nanjing Office (China)
|
| Coupon: | 6.6%
|
| Price: | Par
|
| Yield: | 6.6%
|
| Call option: | At par plus interest for taxation reasons
|
| Put option: | At 101 plus interest for a change of control
|
| Pricing date: | May 5
|
| Issue date: | May 10
|
| Listing date: | May 11
|
| Distribution: | Regulation S
|
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