New Issue: China’s Shandong Qihe prices RMB 244 million 7.8% guaranteed bonds due 2026

By William Gullotti

Buffalo, N.Y., Sept. 28 – Shandong Qihe International (Singapore) Pte., Ltd. priced RMB 244 million of 7.8% guaranteed bonds due 2026 at par, according to a listing notice and an offering circular on Thursday.

The bonds will be guaranteed by the issuer’s indirect parent, Qihe Urban Investment Construction Group Co., Ltd.

Shenwan Hongyuan (H.K.), Golden Rich Securities, Golden Continent Securities Co., Ltd., Zheshang International, Qianxing Capital Ltd., Shanghai Pudong Development Bank Hong Kong Branch and Glory Profit Capital Ltd. are the joint lead managers and joint bookrunners for the offering, with Shenwan, Golden Rich, Golden Continent and Zheshang also working as joint global coordinators.

Proceeds will be used to finance the Qihe County Intelligent Industrial Park Construction Project and for replenishing working capital.

Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective Sept. 28.

The issuer is an indirect and wholly owned subsidiary of the guarantor. The guarantor is an infrastructure construction entity based in Qihe County of China’s Shandong Province.

Issuer:	Shandong Qihe International (Singapore) Pte., Ltd.
Guarantor:	Qihe Urban Investment Construction Group Co., Ltd.
Amount:	RMB 244 million
Issue:	Guaranteed bonds
Maturity:	Sept. 27, 2026
Bookrunners:	Shenwan Hongyuan (H.K.), Golden Rich Securities, Golden Continent Securities Co., Ltd., Zheshang International, Qianxing Capital Ltd., Shanghai Pudong Development Bank Hong Kong Branch and Glory Profit Capital Ltd.
Trustee:	CMB Wing Lung (Trustee) Ltd.
Counsel to issuer:	Mayer Brown (England, Hong Kong), Tahota Law Firm (China), Mayer Brown PK Wong & Nair Pte. Ltd. (Singapore)
Counsel to underwriters:	King & Wood Mallesons (England, Hong Kong), Yingke Law Firm (China)
Coupon:	7.8%
Price:	Par
Yield:	7.8%
Call option:	At par for tax reasons
Put options:	At 101 upon change of control; at par if non-registration event occurs
Pricing date:	Sept. 22
Issue date:	Sept. 27
Listing date:	Sept. 28
Distribution:	Regulation S
ISIN:	HK0000954708

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