Capital Markets - New Dian Group Pte. Ltd., Kunming Iron & Steel Holding Co., Ltd. (昆明钢铁控股有限公司)
Haitong Bank acted as a Joint Bookrunner on the USD100m 7.500% guaranteed Bonds due 2020 issued by New Dian Group Pte. Ltd. unconditionally and irrevocably guaranteed by Kunming Iron & Steel Holding Co., Ltd. Fitch has assigned a corporate rating of ‘‘BBB’’ to the Guarantor with a ‘‘stable’’ outlook. The Bonds are expected to be assigned a rating of ‘‘BBB’’ by Fitch. Listing venue for the Bonds will be Singapore Exchange Securities Trading Limited (SGX-ST).The net proceeds of the notes will be used for general corporate purposes and refinancing.
The Issuer, New Dian Group Pte. Ltd., was incorporated in Singapore on 14 January 2014. The Issuer is a private company and is a directly wholly owned subsidiary of the Guarantor.
The group is approximately 85% owned by State-owned Assets Supervision and Administration Commission of the Yunnan Provincial People’s Government and 15% owned by Kunming Heze, and under the direct supervision of the State-owned Assets Supervision and Administration Commission of the Yunnan Provincial People’s Government.
The Group focuses on nine business sectors under four segments: (i) natural resource products segment, comprising the iron ore mining business, the coal chemical production business and the building cement production business, (ii) modern services segment, comprising the logistic and warehousing business, the power and energy business, the trading business and other modern services businesses, (iii) new material business segment, comprising the heavy equipmentmanufacturing business and the ferroalloybusiness, and (iv) other businesses.