06242017Headline:

Tunghsu Group Successfully Consummated its Inaugural Offshore USD Bond Offering

Jun 15, 2017 - (Newswire)

- On Jun 7th, 2017, Tunghsu Group successfully completed its US$350 million offshore USD bond offering. Goldman Sachs acted as sole global coordinator and sole bookrunner in the transaction. Through site visit in Wuhu, Anhui, and roadshows in Hong Kong, Singapore and London, the Company had comprehensive communications with 100 investors via various forms including site visits, face-to-face meetings and luncheons, and demonstrated to global investors outstanding corporate image and rare investment value as a Chinese private-owned enterprise. Despite the fact that international financial market was impacted by political events including the terrorist attack in UK and the UK general election during the roadshows, with the assistance from Goldman Sachs, Tunghsu Group still seized the favorable issuance window and was well-recognized by 87 high-quality and well-diversified investors from 8 regions, including global blue-chip funds, sovereign wealth funds, large Asian bond funds and Chinese institutions etc.

The offshore USD bond issuance by Tunghsu Group has created multiple "highlights" in the market, including largest debut USD bond issuance from a group holding company in Asia Pacific high yield space, lowest coupon achieved by a debut offering by a group holding company in Asia Pacific high yield space, and first privately-owned company in the optoelectronic and high-end equipment sectors to ever issue a USD bond in Asia Pacific credit capital markets.

The proceeds from this offshore USD bond issuance will be partly used to repay onshore borrowings in order to lower overall financing cost and optimize debt maturity profile; the rest will be used for the Company's research and development to further strengthen the innovation capability. More importantly, Tunghsu Group has successfully presented itself for the first time in the international capital market through this issuance. For years, Tunghsu Group has won the trust from onshore equity and debt capital markets with its constantly improving performance. This time, Tunghsu Group took the bond issuance in the international capital market as the first step to open offshore financing channels and to enter into a brand new development stage. Through multiple financing channels onshore and offshore, Tunghsu Group has laid a solid foundation for its future internationalization development strategy.

For 20 years, Tunghsu Group has been implementing its goal of contributing to the nation through industrial development, and has achieved rapid growth in optoelectronic display, high-end equipment and services, renewable energy and other sectors. Currently, Tunghsu Group has become a leading industrial conglomerate with total assets of approximately RMB137.3 billion by the end of 2016 and revenue of approximately RMB21.1 billion in 2016 and with three A-share listed subsidiaries. In the future, Tunghsu Group will continuously commit to the robust development of national industry, with great social responsibilities and sense of mission.

SOURCE Tunghsu Group

Original Source: https://www.newswire.com/news/tunghsu-group-successfully-consummated-its-inaugural-offshore-usd-bond-offering

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