By William Gullotti
Buffalo, N.Y., April 5 – China’s Luoyang Guoyuan Investment Holding Group Co., Ltd. sold an additional RMB 167.7 million of its 7½% bonds due 2027 at 99.9961, according to a listing notice and an offering circular on Friday.
The purchase price also includes accrued interest from, and including, March 22.
The bonds will be issued and listed under a temporary ISIN until consolidation, at which point the additional bonds will join the initial RMB 170 million issued March 22 to form a single series under the same indenture.
Shenwan Hongyuan (H.K.), Far East Horizon International, Tung Yat Securities Ltd., Yuan Tong Global Securities and Alpine Securities returned as joint global coordinators, joint lead managers and joint bookrunners for the tap offering, with the addition of Realord Asia Pacific Securities, JQ Securities, Haitong International and Raising International Securities Ltd.
As with the initial offering, proceeds from the tap issue will be used to finance construction projects and for replenishing working capital.
Listing for the additional Regulation S bonds is expected on the Chongwa (Macao) Exchange effective April 5. The initial listing became effective March 25.
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 170 million
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| Issue: | Bonds
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| Maturity: | April 2, 2027
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| Bookrunners: | Shenwan Hongyuan (H.K.), Far East Horizon International, Realord Asia Pacific Securities, JQ Securities, Haitong International, Raising International Securities Ltd., Yuan Tong Global Securities, Tung Yat Securities Ltd. and Alpine Securities
|
| Trustee: | China Construction Bank (Asia) Corp., Ltd.
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| Counsel to issuer: | Hunan Jin Hou Law Firm (China)
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| Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Hunan Senli Law Firm (China)
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| Coupon: | 7½%
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| Price: | 99.9961
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| Call: | For taxation reasons at par
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| Change of control: | At 101
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| Pricing date: | March 27
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| Issue date: | April 3
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| Listing date: | April 5
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| Distribution: | Regulation S
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| ISINs: | XS2797210478 (temporary), XS2790628924
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| Total issue: | RMB 337.76 million, including initial RMB 170 million issued on March 22, 2024
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