光银国际助力四川发展成功定价美元债券
2021-08-12光银国际
近日，光银国际作为联席账簿管理人，成功助力四川发展（控股）有限责任公司（“四川发展”或“集团”）定价5年期4亿美元票息2.8%的高级无抵押债券。本次发行为四川发展20亿美元中期票据项目下的提取。债项评级为惠誉A-。债券将于香港交易所、澳门交易所、卢森堡交易所上市。
四川发展是四川省唯一一家省级国有资本运营公司。集团通过投资与控股多个专业的投融资公司涉足不同的业务领域，包括交通基础设施建设与运营，综合贸易，发电及供应，媒体和文化等。集团是四川省首家总资产超过1万亿的国有企业，在引导各类资金、推动重大建设项目和重大产业发展方面发挥着核心作用，在四川省拥有独特且不可取代的战略地位。惠誉授予了集团A-的主体评级，该评级亦是中国西部地区受评企业中的最高级别。
簿记建档日，投资者反响热烈，吸引到大量中外资优质订单，最终账簿规模超过31亿美元，折合约超过7倍的覆盖。基于强劲的账簿，四川发展成功将债券的定价收益率从初始价格指引的3.3%区间大幅收窄约50个基点至2.8%。在光大银行成都分行及卢森堡分行的大力支持下，光银国际助力四川发展成功定价此次美元债券，为四川发展在国际资本市场上获得了更多的投资人认可。以此为契机，光银国际将加大与光大银行成都分行及卢森堡分行的合作力度，加强业务的联动及协同，未来争取在多层次的业务上实现多元化的合作。
Recently, Sichuan Development Holding Co., Ltd. (“Sichuan Development” or the “Group”) successfully priced US$400 million 5-year 2.8% senior fixed rate notes (the “Notes”). CEBI is the Joint Bookrunner of this Transaction. The issuance is a drawdown from the Group’s 2 billion USD MTN programme. The issue rating of the Notes is A- by Fitch. The Notes will be listed on HKEx, MOX and LuxSE.
The Company is the only provincial-level state-owned capital operation company in Sichuan Province. It invests in and controls a number of specialised investment and financing companies in various industries, including principally transportation infrastructure construction and operation, general trading, power generation and supply, media and culture, as well as others. The Group is the first state-owned enterprise in Sichuan Province which has a total asset amounted over 1,000 billion. The Group plays the core role of leading all types of funds, promoting major construction projects and development of major industries. It has a unique and irreplaceable strategic position and is a key and indispensable functional enterprise in Sichuan Province. The Group’s rating is the highest assigned by international rating agencies to a company based in Western China.
On the bookbuilding day, the Notes received overwhelming welcome from the investors. The final book is over US$3.1 billion, over 7x coverage. The Group successfully tightened the reoffer yield from IPG 3.3% area by 50bps to 2.8%. With unreserved support of the Chengdu branch and Luxembourg branch of China Everbright Bank (“CEB Branch”), CEBI helped the Group to price this deal successfully. This will strengthen the business partnership between CEB Branch and CEBI and will enhance our future cooperation in fighting for various business expansion.
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