By William Gullotti
Buffalo, N.Y., Aug. 4 – Shandong Commercial Group Co., Ltd.’s Fuyuan Worldwide Ltd. unit priced a $140 million add-on to its 7% guaranteed bonds due 2023, according to a listing notice on Wednesday.
The add-on bonds, priced at 99.985, will be consolidated with the existing $180 million tranche issued on Aug. 28, 2020 and guaranteed by the parent company.
There is an unconditional and irrevocable guarantee from Lushang.
The joint global coordinators, joint lead managers and joint bookrunners for the offering are Zhongtai International, Shenwan Hongyuan Securities (H.K.) Ltd. and Guosen Securities (HK).
SDG Securities (HK) is also listed as a joint lead manager and joint bookrunner.
The Regulation S listing is on the Hong Kong Exchange
The company provides foreign investment and investment management and operates commercial tourism development, real estate development, financing and other businesses. It is based in Shandong, China.
| Issuer: | Fuyuan Worldwide Ltd.
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| Guarantor: | Lushang
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| Issue: | Guaranteed bonds
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| Amount: | $140 million
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| Maturity: | 2023
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| Bookrunners: | Zhongtai International, Shenwan Hongyuan Securities (H.K.) Ltd., Guosen Securities (HK), SDG Securities (HK)
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| Coupon: | 7%
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| Price: | 99.985
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| Listing date: | Aug. 5
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| Distribution: | Regulation S
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| Original issue: | $180 million of bonds issued on Aug. 28
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