New Issue: Putian State-Owned Assets Investments sells $265 million 7.4% green bonds due 2027

By William Gullotti

Buffalo, N.Y., April 16 – Putian State-Owned Assets Investment Group Co., Ltd. priced $265 million of 7.4% green bonds due 2027 at par, according to a listing notice and an offering circular on Tuesday.

Bank of China, Guotai Junan International, China International Capital Corp., China Industrial Securities International, Haitong International, CNCB Capital, CMBC Capital, China Galaxy International, China Securities International, Citic Securities, GBHK, GF Securities, Guoyuan Securities (Hong Kong), Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, ICBC International, Luso Bank Ltd., Orient Securities (Hong Kong), Shanghai Pudong Development Bank Hong Kong Branch and Zhongtai International are the joint lead managers and joint bookrunners for the offering, with Bank of China, Guotai Junan, China International, China Industrial and Haitong also acting as joint global coordinators.

Proceeds will be used to repay the principal amount of the issuer’s medium- and long-term offshore bonds due in April 2024 and to fund or refinance eligible green projects.

Listing for the Regulation S bonds is expected on the Chongwa (Macao) Exchange effective April 16.

The company is based in China and invests in infrastructure construction, real estate development, new energy development, warehousing, logistics and other sectors.

Issuer:	Putian State-Owned Assets Investment Group Co., Ltd.
Amount:	$265 million
Issue:	Green bonds
Maturity:	April 15, 2027
Bookrunners:	Bank of China, Guotai Junan International, China International Capital Corp., China Industrial Securities International, Haitong International, CNCB Capital, CMBC Capital, China Galaxy International, China Securities International, Citic Securities, GBHK, GF Securities, Guoyuan Securities (Hong Kong), Huatai International, Industrial Bank Co., Ltd., Hong Kong Branch, ICBC International, Luso Bank Ltd., Orient Securities (Hong Kong), Shanghai Pudong Development Bank Hong Kong Branch and Zhongtai International
Trustee:	Bank of New York Mellon, London Branch
Counsel to issuer:	Jun He Law Offices (England, Hong Kong), JunHe LLP (China)
Counsel to underwriters:	King & Wood Mallesons (England, Hong Kong), Jingtian & Gongcheng (China)
Coupon:	7.4%
Price:	Par
Yield:	7.4%
Call:	For taxation reasons at par
Puts:	At 101 upon change of control; at par for a no registration event
Pricing date:	April 8
Issue date:	April 15
Listing date:	April 16
Distribution:	Regulation S
ISIN:	XS2789983124

© 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.