Published on 8/12/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s Zhongtai sells $300 million of 3.85% bonds due 2023 at par
By Sarah Lizee
Olympia, Wash., Aug. 12 – Zhongtai Securities Co., Ltd. (Baa3/BBB-) unit Zhongtai International Finance (BVI) Co. Ltd. priced $300 million of 3.85% bonds due 2023 at par, according to a listing notice.
The bonds are guaranteed by Zhongtai Financial International Ltd. and benefit from a keepwell deed provided by Zhongtai Securities.
The joint lead managers and joint bookrunners are Zhongtai International, China Citic Bank International, BOSC International, Haitong International, AMTD, Bocom International, Central Wealth Securities, China Merchants Securities (HK), China Minsheng Banking Corp., Ltd., CMB International, CMB Wing Lung Bank Ltd., Donxing Securities (Hong Kong), Everbright Sun Hung Kai, GF Securities, Guoyan Capital, ICBC Singapore, Industrial Bank Co., Ltd. Hong Kong Branch, Nanyang Commercial Bank, Shanghai Pudong Development Bank Hong Kong Branch and Zhongtai International (Singapore).
The joint global coordinators are Zhongtai International, China Citic, BOSC and Haitong International.
Listing is expected to become effective on Thursday.
Zhongtai Securities provides financial services and is based in Jinan, China.
| Issuer: | Zhongtai International Finance (BVI) Co. Ltd.
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| Guarantor: | Zhongtai Financial International Ltd.
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| Issue: | Bonds
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| Amount: | $300 million
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| Maturity: | 2023
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| Bookrunners: | Zhongtai International, China Citic Bank International, BOSC International, Haitong International, AMTD, Bocom International, Central Wealth Securities, China Merchants Securities (HK), China Minsheng Banking Corp., Ltd., CMB International, CMB Wing Lung Bank Ltd., Donxing Securities (Hong Kong), Everbright Sun Hung Kai, GF Securities, Guoyan Capital, ICBC Singapore, Industrial Bank Co., Ltd. Hong Kong Branch, Nanyang Commercial Bank, Shanghai Pudong Development Bank Hong Kong Branch and Zhongtai International (Singapore)
|
| Coupon: | 3.85%
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| Price: | Par
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| Yield: | 3.85%
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| Announcement date: | Aug. 12
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| Listing date: | Aug. 13
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| Issuer ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | Regulation S
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