China Shandong Hi-Speed Financial Group Ltd. unit Coastal Emerald Ltd. plans to issue US$550 million of bonds due Jan. 13, 2020.
They will carry a 5.95% interest rate and have an early redemption option. The bonds will be listed on the Hong Kong stock exchange.
The company said Jan. 8 that it will use proceeds from the issuance for refinancing and general corporate purposes.
BOCI Asia Ltd., Mizuho Securities Asia Ltd. and Silk Road International Capital Ltd. were appointed as joint global coordinators, joint lead managers and joint book runners. Zhongtai International Securities Ltd., China Minsheng Banking Corp. Ltd.'s Hong Kong branch, Shanghai Pudong Development Bank's Hong Kong branch, BOCOM International Securities Ltd., Orient Securities (Hong Kong) Ltd., GF Securities (Hong Kong) Brokerage Ltd. and Dongxing Securities (Hong Kong) Co. Ltd. will serve as joint lead managers and joint book runners.