New Issue: China’s Kunming Rail Transit sells $500 million bonds due 2022, 2024

By Sarah Lizee

Olympia, Wash., Dec. 12 – Kunming Rail Transit Group Co., Ltd. informed the Bombay Stock Exchange that it sold $300 million of 3˝% bonds due 2022 and $200 million of 3.9% bonds due 2024 (Baa1//BBB+) at par.

Bank of China, CEB International and China International, Capital Corp. are joint global coordinators, as well as joint bookrunners and joint lead managers together with ABC International, Bocom International, CCB International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMBC Capital, CMB International, Guotai Junan International, Industrial Bank Co., Ltd. Hong Kong Branch, Standard Chartered Bank and TF International.

Listing is expected for Friday.

The Kunming, China-based company operates in the urban transit systems industry.

Issuer:	Kunming Rail Transit Group Co., Ltd.
Issue:	Bonds
Amount:	$500 million
Bookrunners:	Bank of China, CEB International, China International, Capital Corp. (joint global coordinators), ABC International, Bocom International, CCB International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMBC Capital, CMB International, Guotai Junan International, Industrial Bank Co., Ltd. Hong Kong Branch, Standard Chartered Bank and TF International
Ratings:	Moody’s: Baa1
	Fitch: BBB+
2022 bonds
Amount:	$300 million
Maturity:	2022
Coupon:	3˝%
Price:	Par
2024 bonds
Amount:	$200 million
Maturity:	2024
Coupon:	3.9%
Price:	Par

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