Published on 3/15/2024 in the Prospect News Emerging Markets Daily.
New Issue: China’s Nanping Wuyi prices RMB 650 million 4.2% guaranteed bonds due 2027 at par
By William Gullotti
Buffalo, N.Y., March 15 – Nanping Wuyi Group Co., Ltd. sold RMB 650 million of 4.2% guaranteed bonds due 2027 at par, according to a listing notice and an offering circular on Friday.
The bonds are guaranteed by the issuer’s 90% parent, Nanping Wuyi Development Group Co., Ltd.
Sigma Capital, Guotai Junan International, China Securities International, Sinolink Securities (HK), Fosun International Securities, China Citic Bank International, Industrial Bank Co., Ltd., Hong Kong Branch, Hua Xia Bank Co., Ltd., Hong Kong Branch, Guolian Securities International, China International Capital Corp., Haitong Bank, Haitong International, China Industrial Securities International, Bank of China, DBS Bank Ltd., Citic Securities, CMBC Capital, Bocom International, Alpine Securities, China Galaxy International, Shanxi Securities International, CEB International and Gee Hi International Securities (Hong Kong) Ltd. are the joint lead managers and joint bookrunners for the Regulation S offering, with Sigma, Guotai Junan, China Securities, Sinolink and Fosun also serving as joint global coordinators.
Proceeds will be used for construction projects and to replenish working capital.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective March 15.
Based and operating in China’s Nanping City, the issuer’s primary business segments focus on expressway construction and financing, project construction and operation, sales of real property and commodity sales.
Issuer: | Nanping Wuyi Group Co., Ltd.
|
Guarantor: | Nanping Wuyi Development Group Co., Ltd.
|
Amount: | RMB 650 million
|
Issue: | Guaranteed bonds
|
Maturity: | March 14, 2027
|
Bookrunners: | Sigma Capital, Guotai Junan International, China Securities International, Sinolink Securities (HK), Fosun International Securities, China Citic Bank International, Industrial Bank Co., Ltd., Hong Kong Branch, Hua Xia Bank Co., Ltd., Hong Kong Branch, Guolian Securities International, China International Capital Corp., Haitong Bank, Haitong International, China Industrial Securities International, Bank of China, DBS Bank Ltd., Citic Securities, CMBC Capital, Bocom International, Alpine Securities, China Galaxy International, Shanxi Securities International, CEB International and Gee Hi International Securities (Hong Kong) Ltd.
|
Trustee: | China Citic Bank International Ltd.
|
Counsel to underwriters: | Linklaters (England), Beijing Yingke Law Firm Shanghai Office (China)
|
Coupon: | 4.2%
|
Price: | Par
|
Yield: | 4.2%
|
Call: | For taxation reasons at par
|
Puts: | At 101 upon change of control; at par for a no registration event
|
Pricing date: | March 7
|
Issue date: | March 14
|
Listing date: | March 15
|
Distribution: | Regulation S
|
ISIN: | HK0000998002
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.