New Issue: Hangzhou Qiantang prices $300 million 6.28% bonds due 2026 at par

By William Gullotti

Buffalo, N.Y., Aug. 1 – China’s Hangzhou Qiantang New Area Construction and Investment Group Co. Ltd. priced $300 million of 6.28% bonds due 2026 at par, according to a listing notice with an appended offering circular on Tuesday.

Guosen Securities (HK), Caitong International, BOSC International, Hua Xia Bank Co., Ltd., Hong Kong Branch, CNCB Capital, China Citic Bank International, Haitong International, China Galaxy International, Huatai International, China Securities International, CMBC Capital, Essence International, Haitong Bank, China Industrial Securities International and Donghai International are the joint lead managers and joint bookrunners for the offering, with Guosen, Caitong and BOSC also acting as joint global coordinators.

Proceeds from the offering will be used to repay medium- and long-term foreign debts that will mature in August 2023.

Listing for the Regulation S bonds is expected on the Hong Kong Exchange effective Aug. 1.

The construction and development company is based in Hangzhou, Zhejiang, China.

Issuer:	Hangzhou Qiantang New Area Construction and Investment Group Co. Ltd.
Issue:	Bonds
Amount:	$300 million
Maturity:	July 31, 2026
Bookrunners:	Guosen Securities (HK), Caitong International, BOSC International, Hua Xia Bank Co., Ltd., Hong Kong Branch, CNCB Capital, China Citic Bank International, Haitong International, China Galaxy International, Huatai International, China Securities International, CMBC Capital, Essence International, Haitong Bank, China Industrial Securities International and Donghai International
Trustee:	Bank of New York Mellon, London Branch
Counsel to issuer:	Grandall Law Firm (China)
Counsel to bookrunners:	Mayer Brown (England), Beijing Dacheng Law Offices, LLP (China)
Coupon:	6.28%
Price:	Par
Yield:	6.28%
Call option:	For taxation reasons at par
Put option:	At 101 for a change of control; at par for a no-registration event
Pricing date:	July 26
Issue date:	July 31
Listing date:	Aug. 1
Distribution:	Regulation S
ISIN:	XS2654510556

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