New Issue: China’s Zhongrui Industrial sells $70 million 12% three-year notes

By Marisa Wong

Los Angeles, Jan. 2 – Zhongrui Industrial Group Ltd. issued $70 million of 12% three-year senior notes guaranteed by Zhengzhou Zhongrui Industrial Group Co., Ltd., China Coal Solution Co., Ltd. and Hechang Real Estate Group Co., Ltd. on Thursday, according to a notice.

Haitong International Securities Co. Ltd. acted as bookrunner.

Zhongrui develops application software and other electronic products. The Zhengzhou, China-based group also wholesales coal products and building materials.

Issuer:	Zhongrui Industrial Group Ltd.
Guarantors:	Zhengzhou Zhongrui Industrial Group Co., Ltd., China Coal Solution Co., Ltd. and Hechang Real Estate Group Co., Ltd.
Issue:	Senior notes
Amount:	$70 million
Maturity:	Jan. 2, 2022
Bookrunner:	Haitong International Securities Co. Ltd.
Coupon:	12%
Settlement date:	Jan. 2
Rating:	Moody’s: Caa1

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