Published on 10/29/2021 in the Prospect News Emerging Markets Daily.
New Issue: Huzhou City Investment prices $200 million 2.95% notes due 2026 at par
By Marisa Wong
Los Angeles, Oct. 29 – China’s Huzhou City Investment Development Group Co., Ltd. priced $200 million of 2.95% five-year notes (expected: //BBB) at par, according to an offering circular.
Bocom International, China Everbright Bank Hong Kong Branch, CLSA, CMBC Capital, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., CNCB Capital, ICBC International, Shanghai Pudong Development Bank Hong Kong Branch, Standard Chartered Bank and Sigma Capital are the joint lead managers and joint bookrunners for the Regulation S offering.
CCB International, China International Capital Corp., Industrial Bank Co., Ltd. Hong Kong Branch and Bank of China are the joint global coordinators.
Proceeds will be used for general corporate purposes and replenishing working capital.
The operator of infrastructure construction businesses is based in Huzhou, China.
| Issuer: | Huzhou City Investment Development Group Co., Ltd.
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| Issue: | Notes
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| Amount: | $200 million
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| Maturity: | Oct. 28, 2026
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| Bookrunners: | Bocom International, China Everbright Bank Hong Kong Branch, CLSA, CMBC Capital, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., CNCB Capital, ICBC International, Shanghai Pudong Development Bank Hong Kong Branch, Standard Chartered Bank and Sigma Capital
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| Global coordinators: | CCB International, China International Capital Corp., Industrial Bank Co., Ltd. Hong Kong Branch and Bank of China
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| Coupon: | 2.95%
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| Price: | Par
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| Yield: | 2.95%
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| Call option: | In whole at par for tax reasons
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| Change-of-control put: | At 101
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| Pricing date: | Oct. 21
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| Issue date: | Oct. 28
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| Expected ratings: | Fitch: BBB
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| Distribution: | Regulation S
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| ISIN: | XS2388293487
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