New Issue: China’s Suzhou Industrial prices $150 million 2.7% credit-enhanced bonds due 2024

By Marisa Wong

Los Angeles, Nov. 1 – Suzhou Industrial Investment Group Co., Ltd. priced $150 million 2.7% credit-enhanced bonds due 2024 at par, according to a notice.

The bonds are backed by an irrevocable standby letter of credit issued by Huishang Bank Corp. Ltd.

Joint lead managers and joint bookrunners for the Regulation S deal were Fosun Hani, Guoyuan Capital, Industrial Bank Co., Ltd. Hong Kong Branch and China Zheshang Bank Co., Ltd. (Hong Kong Branch). Fosun Hani and Guoyuan Capital are also joint global coordinators.

The investment company is based in Suzhou, China.

Issuer:	Suzhou Industrial Investment Group Co., Ltd.
LoC bank:	Huishang Bank Corp. Ltd.
Issue:	Credit-enhanced bonds
Amount:	$150 million
Maturity:	Oct. 29, 2024
Bookrunners:	Fosun Hani, Guoyuan Capital (global coordinators); Industrial Bank Co., Ltd. Hong Kong Branch and China Zheshang Bank Co., Ltd. (Hong Kong Branch)
Coupon:	2.7%
Price:	Par
Yield:	2.7%
Call option:	In whole at par for tax reasons
Put option:	At par following change of control or no registration event
Pricing date:	Oct. 26
Issue date:	Oct. 29
Listing date:	Nov. 1
Listing:	Hong Kong
Distribution:	Regulation S
ISIN:	XS2399416135

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