New Issue: Taizhou Urban Construction sells $500 million 2.65% senior notes due 2023

By Cady Vishniac

Detroit, Oct. 22 – Taizhou Urban Construction and Investment Development Group Co., Ltd. sold $500 million of 2.65% senior notes due 2023 (//BBB), according to a listing notice.

Joint global coordinators are Orient Securities (Hong Kong) and Citigroup.

Joint lead managers and joint bookrunners are Orient Securities (Hong Kong), Citigroup, CNCB Capital, Shanghai Pudong Development Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Everbright Bank Hong Kong Branch, Carlyon Securities Ltd., Haitong Bank and CMB Wing Lung Bank Ltd.

The proceeds will be used for general corporate purposes and working capital, according to Fitch Ratings.

Based in Taizhou, China, TZUI is an investment company focused on infrastructure construction, public facilities construction and other businesses.

Issuer:	Taizhou Urban Construction Investment Development Group Co., Ltd.
Issue:	Senior notes
Amount:	$500 million
Maturity:	2023
Bookrunners:	Orient Securities (Hong Kong), Citigroup, CNCB Capital, Shanghai Pudong Development Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Everbright Bank Hong Kong Branch, Carlyon Securities Ltd., Haitong Bank and CMB Wing Lung Bank Ltd.
Coupon:	2.65%
Ratings:	Fitch: BBB

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