Duration Financial News, Changchun Urban Development & Investment Holdings (Group) Co, ltd., referred to as "Changfa Group",Moody's: BAA2 Negative, Fitch: BBB Stable, CCXAP: AG+ StableIssuance reg s, 25-year, U.S. dollar-denominated senior unsecured bonds. (priced)
The terms are as follows: Issuer: Chang Development International Limited).
Guarantor: Changchun City Development Investment Holdings (Group)**
Guarantor Rating: Moody's: BAA2 Negative, Fitch: BBB Stable, CCXAP: AG+ Stable
Expected Issue Rating: BBB AG+(Fitch CCXAP).
Release rules: reg s
Type: Fixed-rate, senior unsecured green bond.
Offering size: US$100 million.
Duration: 25 years.
Initial guide price: 73% area
Final guide price: 70%
Coupon rate: 70%
Yield: 70%
Issue **: 100
Delivery date: December 13, 2023.
Expiration date: June 13, 2026.
Use of funds: According to the green financing framework and national *** certificate, the net proceeds from the issuance are intended to be used for the refinancing of medium and long-term offshore debt maturing within one year.
Other terms: Listed on the Hong Kong Stock Exchange;The minimum denomination increment is $200,000 and $1,000;English law.
Joint Global Coordinators: HSBC (B&D), CEB International, Guotai Junan International, CMBC Capital
Joint Lead Managers and Joint Bookrunners: Hua Xia Bank Hong Kong Branch, Huatai International, ABC International, ICBC International, Haitong Bank, Songgang International**.
Joint Green Structural Banks: HSBC, CMBC Capital, CEB International.
External Framework Review: S&P, Moody's.
Clearing Institution: European Bank for Clearing Clearstream Bank.
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