Hong Yang Group Successfully Issues USD250 Million Offshore Guaranteed Senior Note, CICC HK Securities Acts as Joint Global Coordinator

Hong Yang Group Limited. (“Hong Yang Group” or “Company”) successfully issued its debut offshore senior guaranteed fixed-rate USD bond on May 22, 2017. CICC HK Securities acted as Joint Global Coordinator, Joint Bookrunner, and Joint Lead Manager.

Hong Yang Group was founded on October 22, 2003, registered in Hong Kong. The Company is one of the largest real estate developers in Nanjing and Jiangsu Province, focusing on residential and commercial properties.

The transaction received overwhelming attention in the market. As one of the top 100 PRC real-estate firms, Hong Yang Group obtained first-time issuer rating of B / B (S&P / Fitch) and successfully issued an USD250m 3-year senior unsecured bond. With its strong credit profile, Hong Yang Group was widely received by investors and successfully became the first PRC real-estate group whose real-estate sector is unlisted to publicly issue bond in the offshore capital market. This is not only a significant achievement for the Company, but also a significant landmark transaction for the industry. The bond has a coupon rate of 7.875%, staying in a relatively low yield level comparing to peers.

As Joint Global Coordinator in this transaction, CICC HK Securities successfully completed all project execution including regulatory approval, transaction documents, due diligence, roadshow coordinator, marketing materials etc, further highlighting CICC HK Securities’ strong capabilities as the leading investment banker.