New Issue: China’s Suzhou SND sells $300 million 2.7% bonds due 2023

By Cady Vishniac

Detroit, Dec. 14 – Suzhou SND Group Co. Ltd. sold $300 million of 2.7% senior bonds due Dec. 14, 2023 (//BBB+) through its subsidiary, SND International (BVI) Co., Ltd., according to an information release.

The lead managers and bookrunners on the issue were Bocom International, Huatai International, ICBC International, Standard Chartered Bank, Bank of China, BOSC International, China Everbright Hong Kong Branch, CMB Wing Lung Bank Ltd., Shanghai Pudong Development Bank Hong Kong Branch and Suchow Securities International.

Proceeds will be used for domestic project construction, refinancing debt and replenishing working capital, according to Fitch Ratings.

The notes will be listed on the Singapore Exchange on Tuesday.

Suzhou SND is a real estate company in Suzhou, China.

Issuer:	SND International (BVI) Co., Ltd.
Guarantor:	Suzhou SND Group Co. Ltd.
Issue:	Senior bonds
Amount:	$300 million
Maturity:	Dec. 14, 2023
Bookrunners:	Bocom International, Huatai International, ICBC International, Standard Chartered Bank, Bank of China, BOSC International, China Everbright Hong Kong Branch, CMB Wing Lung Bank Ltd., Shanghai Pudong Development Bank Hong Kong Branch and Suchow Securities International
Coupon:	2.7%
Settlement date:	Dec. 14
Listing date:	Dec. 15
Rating:	Fitch: BBB+
Distribution:	Regulation S

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