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China Jianyin Investment Limited Issued Overseas USD Bonds

China Jianyin Investment Limited (JIC) USD bonds issuance successfully underwent the bookkeeping pricing process on August 20th, raising a total of 900 million dollars, among which 400 million USD were 5-year bond issued with a 1.50% coupon rate and a yield of 1.516%, the rest 500 million USD were 10-year bond with a 2.125% coupon rate and a yield of 2.246%.

Moody’s Investors Service and Fitch Ratings gave A2, quasi-sovereignty and A+, sovereignty rating respectively to these new bonds, which attracted more than 192 investors, including banks, asset management companies, fund companies, insurance companies, sovereign funds and private banks. The oversubscription ratio reached up to 9.93 times.

The launch of the bookkeeping process was greatly supported by high-quality investors. The final pricing of 5-year bonds and 10-year bonds was narrowed 55bp and 50bp respectively than their initial pricings.

This marked the second time since JIC issued bond in overseas market in 2017.

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