NEW DEAL: Road King Infrastructure $Bench 3Y Bond, IPT 5.5% Area

ISSUER: RKI Overseas Finance 2016 (A) Limited
GUARANTORS: Road King Infrastructure Limited (1098 HK) and its subsidiaries (other than those established under the law of the PRC or special purpose vehicle subsidiaries incorporated for financing purposes)
GUARANTOR RATINGS: B1 Stable / BB- Stable (M/S)
EXPECTED ISSUE RATINGS: B1 / BB- (M/S)
FORMAT: Reg S, Registered Form
STATUS: Direct, unsubordinated, unconditional and unsecured obligations of the Issuer
ISSUE SIZE: US$ Benchmark
TENOR: 3-Year
PRICE GUIDANCE: 5.5% Area
SETTLEMENT DATE: 9 Aug 2016 (T+4)
USE OF PROCEEDS: Refinancing of existing indebtedness
COVENANTS: Customary HY covenants
TERMS: HKSE Listing; US$200k/US$1k denoms; English Law
JGCs / JLMs / JBRs: DBS Bank Ltd., HSBC (B&D), J.P. Morgan
TIMING: As early as today’s business

** KEY COMPS:

Security Ratings Bid Price Bid YTW
—————————————————–
AGILE 9% 05/20 B1/B+/- 112.375 4.20%
LOGPH 7.7% 01/20 B1/-/BB- 108.875 4.88%
CAPG 6.525% 04/19 B3/-/B+ 102.875 5.37%