Published on 4/26/2024 in the Prospect News Emerging Markets Daily.
New Issue: Taizhou Oriental China Medical sells ¥7.75 billion 1.68% bonds due 2027
By William Gullotti
Buffalo, N.Y., April 26 – Taizhou Oriental China Medical City Holding Group Co., Ltd. sold ¥7.75 billion of 1.68% credit enhanced bonds due 2027 at par, according to a listing notice and an offering circular on Friday.
The Regulation S bonds feature an irrevocable standby letter of credit issued by Bank of Nanjing, Taizhou Branch.
Fosun International Securities, Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, Initial Capital Securities, Sigma Capital, CEB International, Guoyuan Securities (Hong Kong), Citic Securities and China Industrial Securities International are the joint lead managers and joint bookrunners for the offering, with Fosun and Huatai also serving as joint global coordinators.
Proceeds will be used to repay existing offshore debt.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective April 26.
The issuer is an investment company engaged in construction investments, foreign investments, market management, medical drug development, and other services.
| Issuer: | Taizhou Oriental China Medical City Holding Group Co., Ltd.
|
| LoC issuer: | Bank of Nanjing, Taizhou Branch
|
| Amount: | ¥7.75 billion
|
| Issue: | Credit enhanced bonds
|
| Maturity: | April 25, 2027
|
| Bookrunners: | Fosun International Securities, Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, Initial Capital Securities, Sigma Capital, CEB International, Guoyuan Securities (Hong Kong), Citic Securities and China Industrial Securities International
|
| Trustee: | China Citic Bank International Ltd.
|
| Counsel to underwriters: | Jingtian & Gongcheng LLP (Hong Kong), Jingtian & Gongcheng (China)
|
| Coupon: | 1.68%
|
| Price: | Par
|
| Yield: | 1.68%
|
| Call: | For taxation reasons at par
|
| Puts: | At par for a change of control or a no registration event
|
| Pricing date: | April 18
|
| Issue date: | April 25
|
| Listing date: | April 26
|
| Distribution: | Regulation S
|
| ISIN: | XS2788255318
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
