Greenland Global Investment Ltd.
Issue of 4.85% Notes due 2020 under its U.S.$3bn Guaranteed MTN Programme g-teed by Greenland Holding Group Co Ltd.
On 10 August 2017, Haitong Bank acted as a Joint Bookrunner and Joint Lead Manager on a USD500m 4.850% 3 year MTN drawdown for Greenland Global Investment Limited under its USD3bn MTN Programme guaranteed by Greenland Holding Group Company Limited.
Initial price guidance was released at 5.300% area for a 3 year USD-benchmark size deal and following significant investor interest was revised down to 4.900%-5.000%.
Final issue size was set at USD500m and the deal ultimately launched and priced at the tight end of revised yield guidance of 4.900% (4.850% coupon). Final orderbook garnered USD1.25bn in demand.
The net proceeds from the issue of the Notes will be applied by the Issuer for refinancing of existing offshore indebtedness.
The Notes are to be listed on the Hong Kong Stock Exchange.