Published on 7/30/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s Huzhou City Investment unit sells $300 million notes due 2023
By Sarah Lizee
Olympia, Wash., July 30 – Huzhou City Investment Development Group Co., Ltd. unit Taihu Pearl Oriental Co. Ltd. sold $300 million of 3.15% notes due 2023 (//BBB), according to a notice.
The notes are guaranteed by Huzhou City Investment.
CCB International, Bank of China, Huatai International, Standard Chartered Bank, DBS Bank Ltd., Bocom International, China Everbright Bank of Hong Kong Branch, CLSA, CMBC Capital, CMB Wing Lung Bank Ltd., Guotai Junan International, ICBC International, Industrial Bank Co., Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch and TF International are the joint lead managers and joint bookrunners.
CCB, Bank of China, Huatai, Standard Chartered and DBS are also joint global coordinators.
Listing is expected to become effective on Friday.
The operator of infrastructure construction businesses is based in Huzhou, China.
Issuer: | Taihu Pearl Oriental Co. Ltd.
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Guarantor: | Huzhou City Investment Development Group Co., Ltd.
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Issue: | Notes
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Amount: | $300 million
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Maturity: | 2023
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Bookrunners: | CCB International, Bank of China, Huatai International, Standard Chartered Bank, DBS Bank Ltd., Bocom International, China Everbright Bank of Hong Kong Branch, CLSA, CMBC Capital, CMB Wing Lung Bank Ltd., Guotai Junan International, ICBC International, Industrial Bank Co., Ltd. Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch and TF International
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Coupon: | 3.15%
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Listing date: | July 31
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Rating: | Fitch: BBB
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