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China Mengniu Dairy Co Ltd Announces Issuance Of USD500,000,000 3.50% Bonds Due 2018

Thursday, 21 Nov 2013 07:00pm EST 

China Mengniu Dairy Co Ltd announced that on November 21, 2013, the Company entered into the Subscription Agreement with Standard Chartered Bank, Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited and Barclays Bank PLC, in connection with the issue of USD500,000,000 3.50% Bonds due 2018. The estimated net proceeds of the Bonds Issue, after deduction of the underwriting discounts and commission and other estimated expenses, will amount to approximately USD493 million. The Company intends to use the net proceeds to refinance outstanding indebtedness of the Group, including certain loan facilities to which some joint bookrunners are lenders. The Offer Price of the Bonds will be 99.456% of the principal amount of the Bonds. The Bonds will bear interest from and including November 27, 2013 at the rate of 3.50% per annum, payable semi-annually in arrear. 

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