AMTD Group successfully leads Zhongrong International Trust Co., Ltd.’s US$500mm bond offering

On June 16, 2016, AMTD acted as the Joint Bookrunner and Joint Lead Manager on a highly successful Reg S US$500mm 3-year bond offering (the “Transaction”) for Zhongrong International Trust Co., Ltd. (the “Company”).  The Transaction benefited from a keepwell deed from the Company and guarantee from Zhongrong International Holdings Limited, and the Company is rated BB+.

Approved by China Banking Regulatory Commission, Zhongrong International Trust was established in 1987 as Harbin International Trust Investment Co., Ltd. After thirty-year high growth, the Company is now one of the largest trust companies in the PRC. The Company's shareholders include Jingwei Textile Machinery Co., Ltd., a listed company owned by a state-owned-enterprise, China Hi-tech Group Corporation, Zhongzhi Enterprise Group Co., Ltd., Harbin Investment Group Corporation, Shenyang Antaida Trading Company and etc.

As the Joint Bookrunner and Joint Lead Manager, AMTD demonstrates excellent competence and distribution network, and brought in high-quality anchor order for the issuer. On the back of extraordinary distribution work and a significant anchor interest in place, investors were enthusiastic about the Transaction, which finally priced at a reoffer yield of 6.950%, 20bps tighter than price guidance of 7.150% area released. The offering was successfully completed.

This is the sixth bond deal successfully completed by AMTD Group this year. AMTD also successfully led US$300mm senior bond offering of Yunnan Provincial Investment, the largest comprehensive holding company in Yunnan province, the debut US$180mm senior bond offering of Carnival Group (996.HK), China’s only publicly listed operator of large-scale integrated tourism, hospitality and retail attraction, the US$362mm bond exchange and New 5-year USD Notes offering of Sun Hung Kai & Co (86.HK), the largest listed non-bank financial institution in Hong Kong, the HK$500mm international bond issuance of Emperor International Holdings Limited (163.HK), a famous Hong Kong-listed real estate company , as well as AMTD Group’s debut Reg S US$110mm 3-year HKSE-listed bond offering. These successful deals well demonstrate AMTD Group’s competence in distribution network.