By William Gullotti
Buffalo, N.Y., Nov. 30 – Shandong Commercial Group Co., Ltd.’s Fuyuan Worldwide Ltd. unit priced $200 million 7% guaranteed bonds due 2024 at par, according to a document.
The Regulation S bonds will be guaranteed by the parent company.
The bonds can only be redeemed early for taxation reasons at par plus interest.
Zhongtai International, Shenwan Hongyuan (H.K.) and TF International are the joint global coordinators, joint lead managers and joint bookrunners for the offering.
Also serving as joint lead managers and joint bookrunners are SDG Securities (HK) and Orient Securities (Hong Kong).
Proceeds will be used for retail business development, offshore business development and refinancing certain offshore debt.
Listing for the bonds is expected on the Hong Kong Exchange effective Nov. 30.
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.
|
| Guarantor: | Shandong Commercial Group Co., Ltd.
|
| Issue: | Guaranteed bonds
|
| Amount: | $200 million
|
| Maturity: | Nov. 29, 2024
|
| Bookrunners: | Zhongtai International, Shenwan Hongyuan (H.K.), TF International, SDG Securities (HK) and Orient Securities (Hong Kong)
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
|
| Counsel to issuer: | Fangda Partners (English), Tahota Law Firm (China), Ogier (BVI)
|
| Counsel to bookrunners: | Linklaters (English), Dentons (China)
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Call option: | For taxation reasons
|
| Change of control: | At 101
|
| Registration event: | At par
|
| Pricing date: | Nov. 23
|
| Issue date: | Nov. 29
|
| Listing date: | Nov. 30
|
| Distribution: | Regulation S
|
| ISIN: | XS2411437911
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
