Chicago, April 7 – Knowledge City (Guangzhou) Investment Group Co., Ltd. issued $450 million of 3½% green bonds due 2025 (//BBB) at par, according to a listing notice.
The bonds will only be callable in whole, but not in part, for taxation reasons at par plus interest. Bondholders will be able to put the notes at 101 plus interest for a change of control and at par plus interest if a registration event occurs.
Guotai Junan International and Bank of China are the joint green structuring advisors for the Regulation S offering as well as joint global coordinators, joint lead managers and joint bookrunners with CNCB Capital and CMBC Capital.
Also serving as joint lead managers and joint bookrunners are China International Capital Corp., China Zheshang Bank Co., Ltd. (Hong Kong Branch), CLSA, Industrial Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd. and OCBC Bank.
The proceeds will be used to finance or refinance eligible projects under the issuer’s green finance framework.
Listing for the green bonds is expected on the Hong Kong Exchange effective April 7. Applications will also be made to list the bonds on the Singapore Exchange and the Chongwa (Macao) Exchange.
The issuer carries out urban development in the Knowledge City area in China’s Guangzhou Development District.
| Issuer: | Knowledge City (Guangzhou) Investment Group Co., Ltd.
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| Amount: | $450 million
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| Issue: | Green bonds
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| Maturity: | April 6, 2025
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| Bookrunners: | Guotai Junan International, Bank of China, CNCB Capital, CMBC Capital, China International Capital Corp., China Zheshang Bank Co., Ltd. (Hong Kong Branch), CLSA, Industrial Bank Co., Ltd., Hong Kong Branch, Luso Bank Ltd. and OCBC Bank
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| Green structuring advisors: | Guotai Junan International and Bank of China
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| Counsel to issuer: | Fangda Partners (English), Guangdong Kingbridge Law Firm (China)
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| Counsel to bookrunners: | Linklaters (English), King & Wood Mallesons (China)
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| Coupon: | 3½%
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| Price: | Par
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| Yield: | 3½%
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| Call: | In whole, but not in part, for taxation reasons only at par plus interest
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| Change of control: | At 101 plus interest
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| Registration event: | At par plus interest
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| Pricing date: | March 25
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| Settlement date: | April 6
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| Ratings: | Fitch: BBB
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| Distribution: | Regulation S
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| ISIN: | XS2461747250
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