Recently, Taizhou Huaxin Pharmaceutical Investment Co., Ltd.(“Taizhou Huaxin”) successfully issued the second tranche of USD overseas bonds in an amount of USD 146 million, with a maturity of 3 years and a coupon rate of 5%, thereby successfully completing the issuance of overseas bonds in 2021. Taizhou Huaxin is rated to be at BB+ (stable) as an entity, at BB+ for bonds, by Fitch.
In this issuance, JT&N served as the China legal advisor of the issuer, and China Minsheng Bank Hong Kong Branch, Industrial Bank Hong Kong Branch , Fosun Hani and Guoyuan Capital (Hong Kong) Co., Ltd. acted as the lead underwriters. The legal service team led by JT&N senior partners Yuhao XIE and Fei YE, and composed of the attorneys from its Nanjing Office provided a full range of services for the project, including related due diligence, drafting and review of the transaction structure and related documents, the issuance of legal opinions.
Founded in 2005, Taizhou Huaxin is currently a specialized group company integrating investment, financing, construction and operation in the health industry in Taizhou, which is mainly responsible for the construction of the infrastructure, R&D and production platforms, and major urban functional facilities of the health industry, and also the tasks for fund raising, industrialized investment, pharmaceutical sales and logistics, and warehousing; meanwhile, its business also covers the operations in a number of fields such as leasing and management of standard factory buildings, office buildings and hotels, asset operations, and financial services. The issuance of this USD bonds have received the strong support from major cornerstone investors in the process of issuance, which has not only accelerated the pace of construction of Taizhou Medical New & High-tech Industrial Development Zone and broadened its international financing channels, but also enhanced its international image and influence.