By William Gullotti
Buffalo, N.Y., June 30 – China’s Licheng International Development Co., Ltd., an indirectly wholly owned subsidiary of Jinan Licheng Holding Group Co., Ltd., priced $130 million of 7.3% guaranteed bonds due 2026 at par, according to a listing notice with an appended offering circular on Friday.
The bonds are issued by the subsidiary and guaranteed by the parent.
China Industrial Securities International is the global coordinator for the offering, also serving as a joint lead manager and joint bookrunner with China Citic Bank International, CNCB Capital, CMBC Capital, Citic Securities, SunRiver International Securities Group Ltd. and Guoyuan Securities (Hong Kong).
Proceeds will be used for funding construction projects and for general working capital.
Application will be made to list the Regulation S bonds on the Stock Exchange of Hong Kong Ltd.
The issuer is an indirect wholly owned subsidiary of the guarantor, incorporated in the British Virgin Islands on Feb. 10, 2022. Located in the Licheng District of China’s Jinan City, the guarantor is involved in land consolidation, project construction, management and operation, commodity sales, real estate leasing, financial services and other businesses.
| Issuer: | Licheng International Development Co., Ltd.
|
| Guarantor: | Jinan Licheng Holding Group Co., Ltd.
|
| Issue: | Guaranteed bonds
|
| Amount: | $130 million
|
| Maturity: | June 29, 2026
|
| Bookrunners: | China Industrial Securities International, China Citic Bank International, CNCB Capital, CMBC Capital, Citic Securities, SunRiver International Securities Group Ltd. and Guoyuan Securities (Hong Kong)
|
| Trustee: | China Construction Bank (Asia) Corp., Ltd.
|
| Counsel to issuer: | Allen & Overy (England), Beijing Lanpeng (Jinan) Law Firm (China), Ogier (BVI)
|
| Counsel to underwriters: | Linklaters (England), Shandong Bohanyuan Law Firm (China)
|
| Coupon: | 7.3%
|
| Price: | Par
|
| Yield: | 7.3%
|
| Call option: | For taxation reasons at par plus interest
|
| Put option: | At 101 plus interest if change of control occurs; at par plus interest if no registration event occurs
|
| Pricing date: | June 26
|
| Issue date: | June 29
|
| Distribution: | Regulation S
|
| ISIN: | XS2637700720
|
|
|
© 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.
