New Issue: Luoyang Guoyuan prices RMB 353.9 million more 7% bonds due 2027 at 99.998

By William Gullotti

Buffalo, N.Y., Feb. 5 – China’s Luoyang Guoyuan Investment Holding Group Co., Ltd. sold a RMB 353.9 million tap of 7% bonds due 2027 at 99.998, according to a listing notice and an offering circular on Monday.

The additional bonds will be issued under a temporary ISIN and later consolidated with the initial RMB 136.6 million issued Jan. 26, under the same indenture and ISIN, to form a single series.

Shenwan Hongyuan (H.K.), China Galaxy International, Haitong International, Raising International Securities Ltd., Tung Yat Securities Ltd., Essence International, Zhonghui International, Guolian Securities International, FTFT International, Huabang Securities and CF Securities Ltd. are the joint global coordinators, joint lead managers and joint bookrunners for the additional notes.

As with the initial offering, proceeds will be used to finance construction projects and replenishing working capital.

Listing for the Regulation S bonds, under the temporary ISIN, is expected on the Chongwa (Macao) Exchange effective Feb 5.

The group is the core operating entity for infrastructure construction and affordable housing construction in the Jianxi District of Luoyang City, located in China’s Henan Province.

Issuer:	Luoyang Guoyuan Investment Holding Group Co., Ltd.
Amount:	RMB 353.9 million, add-on
Issue:	Bonds
Maturity:	Jan. 26, 2027
Bookrunners:	Shenwan Hongyuan (H.K.), China Galaxy International, Haitong International, Raising International Securities Ltd., Tung Yat Securities Ltd., Essence International, Zhonghui International, Guolian Securities International, FTFT International, Huabang Securities and CF Securities Ltd.
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Hunan Jin Hou Law Firm (China)
Counsel to underwriters:	DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Hunan Senli Law Firm (China)
Coupon:	7%
Price:	99.998 plus accrued and unpaid interest from Jan. 26
Yield:	7%
Call:	For taxation reasons at par
Puts:	At 101 for a change of control; at par for a no registration event
Pricing date:	Jan. 31
Issue date:	Feb. 2
Listing date:	Feb. 5
Distribution:	Regulation S
ISINs:	XS2760665799 (temporary), XS2756142548
Total issue:	RMB 490.5 million, including initial RMB 136.6 million issued Jan. 26

© 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.