New Issue Commentary — Yueyang Construction and Investment Group Co., Ltd.
Dealer commentary on this issuer’s latest new issue, summarised.
Two fiveyear senior unsecured CNYdenominated bond offerings under Regulation S were recently announced, comprising a Yulan bond tranche and a Dim Sum bond tranche. Both tranches launched with initial price guidance in the 2.80% area. The proceeds are earmarked to repay existing medium and longterm offshore debt due in November 2026, in accordance with the NDRC Certificate.
| Tranche | Tenor | Coupon | Ccy | Size | Rank | Maturity |
|---|---|---|---|---|---|---|
| CNY 5Y REG S YULAN BONDS | 5 Years | CNY | TBD | Senior Unsecured | October 26, 2031 | |
| CNY 5Y REG S DIM SUM BONDS | 5 Years | CNY | TBD | Senior Unsecured | October 26, 2031 |