Company News - 13 August 2017

AMTD completes debut US$100mm 3yr senior bond offering for CNLP

On August 1, 2017, China Logistics Property Holdings Co., Ltd (1589.HK, “CNLP” or the “Company”) successfully priced a debut Reg S US$100mm 3-year senior bond offering (the “Transaction”), with AMTD acting as the Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager. This is the inaugural issuance for CNLP in the international debt capital markets, together with AMTD acting as the Joint Global Coordinator for CNLP’s US$460mm HK IPO and the Sole Financing Arranger of its US$200mm loan in 2016, AMTD has further assisted the Company to wide open its financing channels in the international capital markets, demonstrating AMTD's effort and commitment in providing in-depth services to key clients.

CNLP was established in 2003 and became one of the first pure-play entrants in China’s logistics facilities market and began the development, operation and management of Grade A logistics facilities. The Company is also one of the largest logistics facilities operator and the first listed player in China. CNLP has forged a strong relationship with a large number of top tier domestic and foreign tenants, including e-commerce companies such as JD, Jumei and Benlai, leading 3PLs such as SF Express, Li & Fung and Sinotrans and large-scale retailers, manufacturers and others such as Xiaomi, Bosch and Gree Electric Appliance.

Issuer of the Transaction is China Logistics Property Holdings Co., Ltd (1589.HK) with certain non-PRC subsidiaries providing guarantees. CNLP is rated B2 / B (Moody's / Fitch) and the bonds are rated B3 / B (Moody's / Fitch) and will be listed on the Hong Kong Stock Exchange. AMTD acted as the Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager of the Transaction, other syndicate banks included ABC International, Bank of America Merrill Lynch, CCB International, China Everbright Securities (HK), China Industrial Securities International, Credit Suisse, Deutsche, Haitong International, UBS and Yue Xiu Securities.

This Transaction marked the 12th Chinese property-related high-yield USD transaction lead-managed by AMTD, as well as the 4th debut bond issuances completed by AMTD in the sector year-to-date, demonstrating AMTD’s leadership in the international debt capital markets, particularly in Chinese property-related high-yield market. Including CNLP, AMTD has successfully assisted various of Chinese property-related companies to access the international capital markets since last year, these include the USD bond issuances of Oceanwide Holdings(000046.SZ), Logan Property (3380.HK), Yida China Holdings (3639.HK), Yango Holdings, China South City (1668.HK), Yuzhou Properties (1628.HK), Guangzhou R&F (2777.HK), Aoyuan Property (3883.HK), Ronshine China Holdings (3301.HK) , Xinhu Zhongbao (600208.CH) as well as Jiayuan International (2768.HK), assisting them to tap the best market window. The Transaction also represents the 41st offshore bond offering completed by AMTD since last year and the 21st deal this year, demonstrating AMTD’s influences and strong execution capabilities in the international debt capital markets.

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