By William Gullotti
Buffalo, N.Y., Aug. 31 – Suzhou Urban Investment Capital Holding Co., Ltd. sold $45 million of 5.7% bonds due 2026 (Chengxin: Ag-) at par, according to a listing notice and an offering circular on Thursday.
China Zheshang Bank Co., Ltd. (Hong Kong Branch), Fosun International Securities, Luso Bank Ltd., BOSC International, China Citic Bank International and Huatai International are the joint lead managers and joint bookrunners for the offering, with China Zheshang, Fosun and Luso also acting as joint global coordinators.
Proceeds will be used for project construction and to replenish working capital.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Aug. 31.
The issuer is a wholly owned subsidiary of Suzhou Urban Construction & Investment Development Co., Ltd. and is engaged in financial leasing and investment.
| Issuer: | Suzhou Urban Investment Capital Holding Co., Ltd.
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| Amount: | $45 million
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| Issue: | Bonds
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| Maturity: | Aug. 30, 2026
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| Bookrunners: | China Zheshang Bank Co., Ltd. (Hong Kong Branch), Fosun International Securities, Luso Bank Ltd., BOSC International, China Citic Bank International and Huatai International
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| Trustee: | China Construction Bank (Asia) Corp., Ltd.
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| Counsel to underwriters: | Fangda Partners (Hong Kong), Jingtian & Gongcheng (China)
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| Coupon: | 5.7%
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| Price: | Par
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| Yield: | 5.7%
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| Call option: | For taxation reasons at par plus interest
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| Put option: | At 101 plus interest upon change of control; at par plus interest upon no-registration event
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| Pricing date: | Aug. 25
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| Issue date: | Aug. 30
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| Listing date: | Aug. 31
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| Rating: | Chengxin: Ag- (expected)
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| Distribution: | Regulation S
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| ISIN: | XS2668486173
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