HONG KONG, 5 September 2024 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘A+’ global scale Long-term Issuance Credit Rating to the proposed senior unsecured USD bonds (“the Bonds”) to be issued by Qingdao City Construction Investment (Group) Limited’s (“QCCI”; ‘A+’/Stable) wholly-owned subsidiary Hongkong International (Qingdao) Company Limited (“HKIQD”).
The Bonds constitute HKIQD’s direct, unsubordinated, unconditional and unsecured obligations which shall at all times rank at least equally with all its other present and future unsecured and unsubordinated obligations. QCCI has provided a keepwell deed, a deed of equity interest purchase undertaking and an irrevocable cross-border USD standby facility agreement in supporting the Bonds.
QCCI intends to use the net proceeds from this offering for refinancing its existing indebtedness maturing within one year.