Published on 1/2/2020 in the Prospect News Emerging Markets Daily.
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.
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Guarantors: | Zhengzhou Zhongrui Industrial Group Co., Ltd., China Coal Solution Co., Ltd. and Hechang Real Estate Group Co., Ltd.
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Issue: | Senior notes
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Amount: | $70 million
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Maturity: | Jan. 2, 2022
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Bookrunner: | Haitong International Securities Co. Ltd.
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Coupon: | 12%
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Settlement date: | Jan. 2
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Rating: | Moody’s: Caa1
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