On 17 September 2020, China Aoyuan Group Limited (“China Aoyuan” or the “Company”, 3883.HK) successfully priced its US$350m 5.5NC3-year senior fixed rate bond offering (the “Transaction”). AMTD acted as a Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager on the Transaction.
The tenor of the Transaction (5.5 years) is the longest tenor achieved for a USD bond offering issued by the Company. After obtaining new NDRC quota on 16 September, the Company swiftly took advantage of the active issuance window to launch and price on the following day. The Company announced an initial price guidance of 6.5% area and the orderbook grew to over US$1.45bn by noon. The Company eventually priced the Transaction at 6.2% yield, representing a tightening of 30 bps from initial price guidance.
AMTD and China Aoyuan have maintained a close long-term partnership relationship, with AMTD having assisted China Aoyuan and its affiliated companies on numerous international equities and fixed income capital market transactions. This Transaction represents the 8th USD bond offering led managed by AMTD for China Aoyuan.