By William Gullotti
Buffalo, N.Y., April 23 – Zoucheng Limin Construction Development Group Co., Ltd. sold RMB 105 million of 7½% bonds due Oct. 22, 2026 at par, according to a listing notice and an offering circular on Tuesday.
JQ Securities, Shenwan Hongyuan (H.K.), Yuan Tong Global Securities, Wanhai Sec HK, HK Main Fund, Gee Hi International Securities (Hong Kong) Ltd. and Haitong International are the joint lead managers and joint bookrunners for the offering, with JQ, Shenwan, Yuan Tong and Wanhai also acting as joint global coordinators.
Proceeds will be used for project construction.
Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective April 23.
The issuer is primarily owned by the Zoucheng Finance Bureau and involved in infrastructure construction, real estate sales, construction, property services, landscaping and other ancillary businesses.
| Issuer: | Zoucheng Limin Construction Development Group Co., Ltd.
|
| Amount: | RMB 105 million
|
| Issue: | Bonds
|
| Maturity: | Oct. 22, 2026
|
| Bookrunners: | JQ Securities, Shenwan Hongyuan (H.K.), Yuan Tong Global Securities, Wanhai Sec HK, HK Main Fund, Gee Hi International Securities (Hong Kong) Ltd. and Haitong International
|
| Trustee: | China Citic Bank International Ltd.
|
| Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP (England, Hong Kong), Hylands Law Firm (China)
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| Coupon: | 7½%
|
| Price: | Par
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| Yield: | 7½%
|
| Call option: | For taxation reasons at par
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| Puts: | At 101 for a change of control; at par for a no registration event
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| Pricing date: | April 16
|
| Issue date: | April 22
|
| Listing date: | April 23
|
| Distribution: | Regulation S
|
| ISIN: | XS2806992686
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