Chicago, Sept. 19 – China’s Shaoxing Paojiang Venture Construction Development Co., Ltd. sold RMB 800 million 4.2% credit-enhanced bonds due 2025, according to an offering document.
The bonds are supported by an irrevocable standby letter of credit issued by Bank of Shanghai Co., Ltd., Hangzhou Branch.
The bonds were priced at par.
The joint global coordinators, joint lead managers and joint bookrunners are China Securities International, China International Capital Corp., Guosen Securities (HK) and Sinolink Securities (HK).
Proceeds will be used for project financing and to supplement working capital.
The bonds are not rated.
The issuer is responsible for the investment and construction of major urban infrastructure projects in Shaoxing Paojiang Development Zone.
| Issuer: | Shaoxing Paojiang Venture Construction Development Co., Ltd.
|
| Amount: | RMB 800 million
|
| Issue: | Credit-enhanced bonds
|
| Maturity: | Sept. 15, 2025
|
| Bookrunners: | China Securities International, China International Capital Corp., Guosen Securities (HK) and Sinolink Securities (HK)
|
| Trustee: | CMB Wing Lung (Trustee) Ltd.
|
| Counsel to issuer: | Freshfields Bruckhaus Deringer, Zhejiang Z&J Law Firm
|
| Counsel to underwriters: | King & Wood Mallesons, Commerce & Finance Law Offices
|
| Coupon: | 4.2%
|
| Price: | Par
|
| Yield: | 4.2%
|
| Change of control: | At par
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 15
|
| Distribution: | Regulation S
|
|
|
© 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.
