Chicago, Sept. 9 – Zhejiang Deqing Jinkai Urban Development Co., Ltd. sold $50 million of 2.05% credit-enhanced bonds due 2024 at par, according to a listing notice.
The notes have the benefit of an irrevocable standby letter of credit issued by Bank of Hangzhou Co., Ltd. Huzhou Branch.
The joint global coordinators, joint lead managers and joint bookrunners for the offering are Haitong International and ABC International.
Joint lead managers and joint bookrunners are China Zheshang Bank Co., Ltd. (Hong Kong Branch), CNCB Capital, Dongxing Securities (Hong Kong), Essence International, Everbright Securities International, ICBC International, Luso Bank Ltd. and SPDB International.
Proceeds will be used for project construction, general corporate purpose and replenishment of working capital.
Based in the Zhejiang Province, the company provides infrastructure construction services.
| Issuer: | Zhejiang Deqing Jinkai Urban Development Co., Ltd.
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| Issue: | Credit-enhanced bonds
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| Amount: | $50 million
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| Maturity: | 2024
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| Bookrunners: | Haitong International, ABC International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CNCB Capital, Dongxing Securities (Hong Kong), Essence International, Everbright Securities International, ICBC International, Luso Bank Ltd. and SPDB International
|
| Coupon: | 2.05%
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| Price: | Par
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| Yield: | 2.05%
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| Pricing date: | Sept. 1
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| Listing date: | Sept. 9
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| Distribution: | Regulation S
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