Chicago, Aug. 31 – Qingdao High-Speed Train Industry Development Group (BVI) Co., Ltd. issued RMB 400 million of 4.45% credit-enhanced bonds due 2025, according to an offering document.
The notes priced at par.
The bonds have the benefit of a keepwell deed from Qingdao Bullet Train Town Investment Group Co., Ltd. and a standby letter of credit from China Bohai Bank Co., Ltd., Qingdao Branch.
Orient Securities (Hong Kong), Fosun Hani, Huatai International were the joint global coordinators.
They were joined as joint bookrunners and joint lead managers by Shanghai Pudong Development Bank Hong Kong Branch, Initial Capital Securities and Harmonia Capital Ltd.
Proceeds will be used for business operations and to replenish working capital.
Qingdao Bullet Train Town is a high-speed railway company based in Qingdao, China. The issuing subsidiary is based in the British Virgin Islands.
| Issuer: | Qingdao High-Speed Train Industry Development Group (BVI) Co., Ltd.
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| Keepwell deed: | Qingdao Bullet Train Town Investment Group Co., Ltd.
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| Amount: | RMB 400 million
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| Issue: | Credit-enhanced bonds
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| Maturity: | Aug. 30, 2025
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| Bookrunners: | Orient Securities (Hong Kong), Fosun Hani, Huatai International (joint global coordinators), Shanghai Pudong Development Bank Hong Kong Branch, Initial Capital Securities and Harmonia Capital Ltd.
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| Trustee: | China Construction (Asia) Corp. Ltd.
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| Counsel to underwriters: | Fangda Partners, Jingtian & Gongcheng, Ogier
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| Coupon: | 4.45%
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| Price: | Par
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| Yield: | 4.45%
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| Change of control: | At par
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| Trade date: | Aug. 25
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| Settlement date: | Aug. 30
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| Distribution: | Regulation S
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