New Issue: China’s Shenwan Hongyuan issues $500 million 1.8% guaranteed bonds due 2026

By William Gullotti

Buffalo, N.Y., July 14 – Shenwan Hongyuan International Finance Ltd., a wholly owned subsidiary of Shenwan Hongyuan Securities Co., Ltd., issued $500 million of 1.8% guaranteed bonds (Baa2/BBB) due 2026, according to a listing notice on Wednesday.

The bonds are guaranteed by the parent company.

Shenwan Hongyuan (H.K.), Bank of China, China International Capital Corp., Citigroup, China Securities International, ICBC International and Société Générale CIB are serving as joint global coordinators, joint lead managers and joint bookrunners.

Also serving as joint lead managers and joint bookrunners are ABC International, CMB International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Bocom International, China Construction Bank (Asia), Shanghai Pudong Development Bank Hong Kong Branch, GF Securities, China Everbright Bank Hong Kong Branch, Standard Chartered Bank, Industrial Bank Co., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., ICBC (Asia), Bank of Communications, ICBC Singapore, Haitong International and Huatai International.

The company intends to use the proceeds to supplement working capital and support development of its overseas businesses.

The listing for the Regulation S bonds is expected to be effective July 15.

Shenwan Hongyuan is a securities institution based in Hong Kong.

Issuer:	Shenwan Hongyuan International Finance Ltd.
Guarantor:	Shenwan Hongyuan Securities Co., Ltd.
Issue:	Guaranteed bonds
Amount:	$500 million
Maturity:	2026
Bookrunners:	Shenwan Hongyuan (H.K.), Bank of China, China International Capital Corp., Citigroup, China Securities International, ICBC International, Société Générale CIB, ABC International, CMB International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Bocom International, China Construction Bank (Asia), Shanghai Pudong Development Bank Hong Kong Branch, GF Securities, China Everbright Bank Hong Kong Branch, Standard Chartered Bank, Industrial Bank Co., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., ICBC (Asia), Bank of Communications, ICBC Singapore, Haitong International and Huatai International
Coupon:	1.8%
Pricing date:	July 7
Listing date:	July 15
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	Regulation S

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