By Mary-Katherine Stinson
Lexington, Ky., Sept. 9 – Contemporary Ruiding Development Ltd. issued $500 million of bonds (Baa1) in one tranche guaranteed by Contemporary Amperex Technology Co., Ltd., according to a Hong Kong Stock Exchange notice.
The company issued 1˝% guaranteed bonds due 2026.
The joint global coordinators, joint bookrunners and joint lead managers are HSBC, BofA Securities and ICBC International. Additional joint bookrunners and joint lead managers are Barclays, BNP Paribas, China Citic Bank International, China Minsheng Banking Corp. Hong Kong Branch, Citigroup and CMB International.
The listing is expected to become effective Sept. 10.
Proceeds will be used for general corporate purposes, according to Moody’s Investors Service.
The battery manufacturer and technology company is based in Ningde, China.
| Issuer: | Contemporary Ruiding Development Ltd.
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| Guarantor: | Contemporary Amperex Technology Co., Ltd.
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| Issue: | Bonds
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| Amount: | $500 million
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| Maturity: | 2026
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| Bookrunners: | HSBC, BofA Securities and ICBC International
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| Additional bookrunners: | Barclays, BNP Paribas, China Citic Bank International, China Minsheng Banking Corp. Hong Kong Branch, Citigroup and CMB International
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| Coupon: | 1˝%
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| Rating: | Moody’s: Baa1
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| Issue date: | Sept. 2
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| Listing date: | Sept. 10
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