By Rebecca Melvin
New York, April 1 – Kunming Municipal Urban Construction Investment & Development Co. Ltd. announced that it has sold a $200 million tap of its 5.8% notes (Ba1//BB+) due 2022, according to a regulatory notice with the Hong Kong stock exchange. The notes will form a single series with $300 million of the notes that priced previously.
The new notes priced at 99.63.
The global coordinator was China International Capital Corp.
Joint bookrunners and joint lead managers are Bank of China, Bocom International, CMBC Capital, Guotai Junan International, Haitong International, Industrial Bank Co. Ltd. Hong Kong Branch, Orient Securities (Hong Kong) and Shenwan Hongyuan HK.
The listing is expected to become effective on April 1.
The company is owned by the Kunming State-owned Assets Supervision and Administration Commission.
| Issuer: | Kunming Municipal Urban Construction Investment & Development Co. Ltd.
|
| Issuer: | Notes
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| Amount: | $200 million tap
|
| Maturity: | 2022
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| Coupon: | 5.8%
|
| Price: | 99.63
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| Global coordinator: | China International Capital Corp.
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| Bookrunners: | Bank of China, Bocom International, CMBC Capital, Guotai Junan International, Haitong International, Industrial Bank Co. Ltd. Hong Kong Branch, Orient Securities (Hong Kong) and Shenwan Hongyuan HK
|
| Listing date: | April 1
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| Ratings: | Moody’s: Ba1
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| Fitch: BB+
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| Total deal size: | $500 million
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