Published on 8/25/2021 in the Prospect News Emerging Markets Daily.
New Issue: Central International Development issues $300 million 2.2% guaranteed bonds due 2024
By William Gullotti
Buffalo, N.Y., Aug. 25 – Central International Development (BVI) Ltd. sold $300 million of 2.2% guaranteed bonds (//A-) due 2024 at par, according to a listing notice filed on Wednesday.
The bonds are guaranteed by Henan Investment Group Co. Ltd.
The joint global coordinators, joint lead managers and joint bookrunners for the offering are China International Capital Corp., Guotai Junan International, Standard Chartered Bank, ICBC (Asia) and ABC International.
Bank of China, Bank of Communications, Central China International Capital Ltd., China Citic Bank, China Everbright Bank Hong Kong Branch, China Industrial Securities International, China Merchants Securities (HK), China Minsheng Banking Corp., Ltd., China Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CLSA, CMB Wing Lung Bank Ltd., DBS Bank Ltd., GF Securities, Haitong International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd., Shanghai Pudong Development Bank, Sheng Yuan Securities, Shenwan Hongyuan (H.K.) and SMBC Nikko are also serving as joint bookrunners and joint lead managers.
The listing for the Regulation S bonds is expected on the Hong Kong Exchange Aug. 26.
According to Fitch Ratings, the proceeds are intended for refinancing debt, project construction and investment.
The issuer provides power transmission, power system management, power network maintenance and other services.
| Issuer: | Central International Development (BVI) Ltd.
|
| Guarantor: | Henan Investment Group Co. Ltd.
|
| Issue: | Guaranteed bonds
|
| Amount: | $300 million
|
| Maturity: | 2024
|
| Bookrunners: | China International Capital Corp., Guotai Junan International, Standard Chartered Bank, ICBC (Asia), ABC International, Bank of China, Bank of Communications, Central China International Capital Ltd., China Citic Bank, China Everbright Bank Hong Kong Branch, China Industrial Securities International, China Merchants Securities (HK), China Minsheng Banking Corp., Ltd., China Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CLSA, CMB Wing Lung Bank Ltd., DBS Bank Ltd., GF Securities, Haitong International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd., Shanghai Pudong Development Bank, Sheng Yuan Securities, Shenwan Hongyuan (H.K.) and SMBC Nikko
|
| Coupon: | 2.2%
|
| Price | Par
|
| Yield: | 2.2%
|
| Pricing date: | Aug. 18
|
| Listing date: | Aug. 26
|
| Ratings: | Fitch: A-
|
| Distribution: | Regulation S
|
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