On August 1st 2019, Chenming Paper Paper Holdings Limited (“Chenming Paper” or the “Company”, 1812.HK/ 000488.SZ/ 200488.SZ) successfully priced its US$163m due 2022 senior fixed rate bond offering (the “Transaction”). AMTD acted as the leading Joint Global Coordinator on the Transaction.

The Transaction is the debut offshore USD public bond offering by Chenming Paper. As the leading joint global coordinator, AMTD assisted the Company in designing the issuance structure, organizing execution process, drafting credit story, arranging investor meetings, bookbuilding and pricing. Meanwhile, AMTD made outstanding contributions during the bookbuilding and pricing. The Transaction is the first bond offering by Chinese papermakers since 2008, showcasing AMTD’s ability in assisting leading enterprises in China on tapping into new financing channels and the companys’ recognition of AMTD’s position in the international debt capital markets.



The issuer was Meilun (BVI) Limited and Chenming Paper provided cross-border guarantee to the Transaction. The Company and the Transaction are both unrated. The Company accepted the suggestion by underwriters and decided to undertake a one-day drive-by execution after collecting solid investor feedbacks and high-quality anchor orders in order to minimize the market uncertainty. The Transaction was announced with initial price guidance at 9.000% area. The bookbuilding was very successful as AMTD brought in high-quality market orders. Final price guidance was 9.000%.

Chenming Paper, the leading enterprise in Chinese papermaking industry, is ranked as one of the Top 10 in world paper industry and the 190th among Top 500 enterprises in China. Since its foundation in 1958, Chenming Paper has grown into a conglomerate that dominates with its papermaking, finance, pulp, real estate and mining industry and also involves in fields like forestry, logistics, building materials, hotels, etc. Chenming Paper has production bases in Shandong, Guangdong, Hubei, Jiangxi, Jilin, etc., with total assets reaching RMB 100 billion and the annual production capability achieving over 10 million tons. Chenming Paper is the only listed company having A, B and H shares in China. The company is selected as top 100 Chinese listed companies and 10 star companies, rating as one of the 50 most competitive blue-chip companies in China.

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