Han Kun Law Offices LLP ("Han Kun Hong Kong"), as international legal counsel to the issuer, has successfully assisted in a 3-year US$180 million bond issuance project, with Nanjing Pukou Economic Development Co., Ltd. as the guarantor and its directly wholly-owned BVI subsidiary, Boxinyuan International Limited, as the issuer. Han Kun Hong Kong provided efficient and professional legal services under English law and Hong Kong law in this transaction.
The 3-year US$180 million bonds carry a coupon rate of 4.88%. Amid recent sharp fluctuations in U.S. Treasury yields, the company's pricing was significantly tightened by 72 basis points compared to the initial price guidance and was ultimately oversubscribed, reaching up to three times coverage. The pricing attracted a wide range of investors, including banks, funds, asset managers, wealth management subsidiaries, securities proprietary accounts, and trusts, reflecting the market and investors' recognition of the company's credit quality. The bonds issued are listed on the Macao Financial Asset Exchange Co., Ltd.
Established in 1992, Nanjing Pukou Economic Development Co., Ltd. is a state-owned enterprise wholly owned by the Nanjing Pukou Economic Development Zone Management Committee. As the sole investment, financing, and construction entity of the Pukou Economic Development Zone Management Committee, the company focuses on land development and infrastructure construction within the Pukou Economic Development Zone.
