By William Gullotti
Buffalo, N.Y., Jan. 18 – Zibo High-tech International Investment Co., Ltd. priced $25 million of 8% one-year guaranteed bonds at par, according to a listing notice with an appended offering circular on Wednesday.
The bonds will be guaranteed by parent company Zibo Hi-Tech State-Owned Capital Investment Co., Ltd.
Initial Capital Securities, Fosun Hani, Citic Securities and Csiam are the placement agents for the Regulation S offering.
Proceeds will be used for project construction, for replenishing working capital and to repay existing debt.
Listing for the bonds is expected on the Hong Kong Exchange effective Jan. 18.
The issuer operates investment management associated with urban infrastructure construction, land development and other services.
| Issuer: | Zibo High-tech International Investment Co., Ltd.
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| Guarantor: | Zibo Hi-Tech State-Owned Capital Investment Co., Ltd.
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| Amount: | $25 million
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| Issue: | Guaranteed bonds
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| Maturity: | Jan. 17, 2024
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| Placement agents: | Initial Capital Securities, Fosun Hani, Citic Securities and Csiam
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| Trustee: | China Construction Bank (Asia) Corp., Ltd.
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| Counsel to agents: | Fangda Partners (Hong Kong), Jingtian & Gongcheng (China)
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| Coupon: | 8%
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| Price: | Par
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| Yield: | 8%
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| Call: | For taxation reasons at par plus interest
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| Change of control: | At 101 plus interest
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| Pricing date: | Jan. 12
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| Issue date: | Jan. 17
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| Listing date: | Jan. 18
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| Distribution: | Regulation S
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| ISIN: | XS2560864253
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