ZGC Group Successfully Issued $300 mn of Public Offering Debt

On Jan. 16, 2010, ZGC  Group successfully issued $300 mn of senior unsecured bonds, rated A by Fitch, at a coupon rate of 2.875% and with a maturity of 3 year. The fund raised will be used for the construction of a global innovation, equity investment in tech firms, capital operation and other purposes.

HSBC, DBS, GF Securities and BRICC are joint coordinators for this bond issuance. In addition, HSBC acts as a sole credit advisor and ICBC International as a co-bookrunner for this issuance.

The bonds were immediately welcomed by investors. 100 investors from around the world subscribed for more than 8 times the offering, for a total of over $2.5 bn. The 2.875% coupon rate is the lowest for overseas bonds issued by China’s local state-owned enterprises in nearly half a year. 

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