By Marisa Wong
Los Angeles, March 3 – Wuxing City Investment HK Co. Ltd. priced $80 million of 4% bonds due 2025 guaranteed by parent company Huzhou Wuxing City Investment Development Group Co., Ltd. at par, according to an offering circular.
Fosun Hani, China Industrial Securities International, Dongxing Securities (Hong Kong), China Zheshang Bank Co., Ltd. (Hong Kong Branch), Harmonia Capital Ltd. and Donghai International are the joint bookrunners and joint lead managers for the Regulation S offering, with Fosun Hani, China Industrial Securities and Dongxing Securities as joint global coordinators.
Proceeds will be used for the construction of onshore projects and working capital.
The bonds are intended for purchase by professional investors and not appropriate as an investment for retail investors in Hong Kong, the company noted.
The company is an infrastructure construction and land development company in the Wuxing district of Huzhou, Zhejiang, China.
| Issuer: | Wuxing City Investment HK Co. Ltd.
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| Guarantor: | Huzhou Wuxing City Investment Development Group Co., Ltd.
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| Issue: | Notes
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| Amount: | $80 million
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| Maturity date: | March 2, 2025
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| Bookrunners: | Fosun Hani, China Industrial Securities International, Dongxing Securities (Hong Kong), China Zheshang Bank Co., Ltd. (Hong Kong Branch), Harmonia Capital Ltd. and Donghai International
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| Coupon: | 4%
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| Price: | Par
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| Yield: | 4%
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| Call option: | At par for tax reasons
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| Change-of-control put: | At 101
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| Pricing date: | Feb. 25
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| Settlement date: | March 2
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| Distribution: | Regulation S
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| ISIN: | XS2434681321
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