New Issue: China’s Zibo City sells RMB 1.46 billion of 5.8% bonds due 2027 at par

By William Gullotti

Buffalo, N.Y., Jan. 19 – Zibo City Asset Operation Group Co., Ltd. sold RMB 1.46 billion of 5.8% bonds due 2027 at par, according to a listing notice with an appended offering circular on Friday.

Wan Lung Securities, TF International, China Citic Bank International, China Galaxy International, Citic Securities, Guolian Securities International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Huatai International, Shanghai Pudong Development Bank Hong Kong Branch, Haitong Bank, Yuan Tong Global Securities, China Credit International Securities, Far East Horizon International, Sigma Capital and Global Prosperity Financial Co., Ltd. are the joint lead managers and joint bookrunners for the offering, with Wan Lung and TF also acting as joint global coordinators.

Minmetals Securities is the PRC coordinator.

Proceeds will be used to fund construction projects and for replenishing working capital.

Listing for the Regulation S bonds is expected on the Hong Kong Exchange effective Jan. 19.

Located and operating in Zibo City of China’s Shandong Province, the state-owned investment, development and operations platform is focused on accelerating the city’s urban development and upgrading its infrastructure.

Issuer:	Zibo City Asset Operation Group Co., Ltd.
Amount:	RMB 1,461,000,000
Issue:	Bonds
Maturity:	Jan. 18, 2027
Bookrunners:	Wan Lung Securities, TF International, China Citic Bank International, China Galaxy International, Citic Securities, Guolian Securities International, Hua Xia Bank Co., Ltd., Hong Kong Branch, Huatai International, Shanghai Pudong Development Bank Hong Kong Branch, Haitong Bank, Yuan Tong Global Securities, China Credit International Securities, Far East Horizon International, Sigma Capital and Global Prosperity Financial Co., Ltd.
PRC coordinator:	Minmetals Securities
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Fangda Partners (England), Jingtian & Gongcheng (China)
Counsel to underwriters:	Morgan, Lewis & Bockius (England, Hong Kong), Yinghe LLP Beijing (China)
Coupon:	5.8%
Price:	Par
Yield:	5.8%
Call:	For taxation reasons at par
Puts:	At 101 upon change of control; at par for a no registration event
Pricing date:	Jan. 11
Issue date:	Jan. 18
Listing date:	Jan. 19
Distribution:	Regulation S
ISIN:	HK0000984689

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