New Issue: Linyi Eastern City Construction sells RMB 400 million of 7.9% bonds due 2026 at par

By William Gullotti

Buffalo, N.Y., March 13 – China’s Linyi Eastern City Construction Investment Group Co., Ltd. sold RMB 400 million of 7.9% bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.

TF International, Yuan Tong Global Securities, Haitong International, Golden Continent Securities Co., Ltd., JQ Securities, Far East Horizon International, Donghai International, CF Securities Ltd., Hong Kong Main Fund Securities Ltd., SPDB International, Orient Securities Ltd., Fortune (HK) Securities Ltd., Realord Asia Pacific Securities, Raising International Securities Ltd., Pulun Intl., Sigma Capital and Alpine Securities are the joint lead managers and joint bookrunners for the Regulation S offering, with TF, Yuan Tong, Haitong, Golden Continent, JQ and Far East also serving as joint global coordinators.

Proceeds will be used for replenishing working capital, as well as funding the construction of the Dongcheng Intelligent Industrial Park Project of Linyi Jiantou Intelligent Logistics Co., Ltd. and the Linyi Dongcheng Huinong Efficient Industrial Science and Innovation Center Project.

Listing for the bonds is expected on the Chongwa (Macao) Exchange effective March 13.

The issuer is an infrastructure construction platform involved in developing industrial parks and urban renewal projects, based and operating in Hedong District of Linyi City in China’s Shandong Province.

Issuer:	Linyi Eastern City Construction Investment Group Co., Ltd.
Amount:	RMB 400 million
Issue:	Bonds
Maturity:	March 12, 2026
Bookrunners:	TF International, Yuan Tong Global Securities, Haitong International, Golden Continent Securities Co., Ltd., JQ Securities, Far East Horizon International, Donghai International, CF Securities Ltd., Hong Kong Main Fund Securities Ltd., SPDB International, Orient Securities Ltd., Fortune (HK) Securities Ltd., Realord Asia Pacific Securities, Raising International Securities Ltd., Pulun Intl., Sigma Capital and Alpine Securities
Trustee:	China Construction Bank (Asia) Corp., Ltd.
Counsel to issuer:	Tian Yuan Law Firm LLP (England), Hylands Law Firm (China)
Counsel to underwriters:	DeHeng Law Offices (Hong Kong) LLP (England), Allbright Law (Shenzhen) Offices (China)
Coupon:	7.9%
Price:	Par
Yield:	7.9%
Call:	For taxation reasons at par
Puts:	At 101 for a change of control; at par for a no registration event
Pricing date:	March 6
Issue date:	March 12
Listing date:	March 13
Distribution:	Regulation S
ISIN:	XS2780476102

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