By William Gullotti
Buffalo, N.Y., March 14 – Huikai International Investment Co. Ltd. sold ¥8.3 billion of 1.9% bonds due 2025 at par, according to a listing notice and an offering circular on Thursday.
The bonds are supported by a keepwell deed and a deed of equity interest purchase undertaking by Wuxi Huishan Hi Tech Group Co., Ltd.
SunRiver International Securities, Citic Securities, Shanghai Pudong Development Bank Hong Kong Branch, Guolian Securities International, China Galaxy International, CMB Wing Lung Bank Ltd., Goldbridge Securities, Carnegie Hill Capital Partners Ltd. and Pearl International Securities Ltd. are the joint lead managers and joint bookrunners for the Regulation S offering, with SunRiver, Citic and Shanghai Pudong also serving as joint global coordinators.
Proceeds will be used for refinancing and general corporate purposes.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective March 14.
The issuer is involved in infrastructure construction and the construction of compensatory housing for resettled households in Wuxi Huishan Economic Development Zone in the Jiangsu Province. Wuxi Huishan Economic Development Zone Sasac owns Huikai.
| Issuer: | Huikai International Investment Co. Ltd.
|
| Keepwell provider: | Wuxi Huishan Hi Tech Group Co., Ltd.
|
| Amount: | ¥8.3 billion
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| Issue: | Bonds
|
| Maturity: | March 12, 2025
|
| Bookrunners: | SunRiver International Securities, Citic Securities, Shanghai Pudong Development Bank Hong Kong Branch, Guolian Securities International, China Galaxy International, CMB Wing Lung Bank Ltd., Goldbridge Securities, Carnegie Hill Capital Partners Ltd. and Pearl International Securities Ltd.
|
| Trustee: | CMB Wing Lung (Trustee) Ltd.
|
| Counsel to issuer: | Ogier (BVI)
|
| Counsel to underwriters: | DeHeng Law Offices (Hong Kong) LLP (England), Jingtian & Gongcheng (China)
|
| Coupon: | 1.9%
|
| Price: | Par
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| Yield: | 1.9%
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| Call: | For taxation reasons at par
|
| Change of control: | At 101
|
| Pricing date: | March 8
|
| Issue date: | March 13
|
| Listing date: | March 14
|
| Distribution: | Regulation S
|
| ISIN: | XS2779788731
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