HONG KONG, 4 July 2023 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB’ global scale Long-term Issuance Credit Rating to the senior unsecured USD bonds (“the Bonds”) to be issued by Hubei New Tongdu Urban Investment and Development Group Co., Ltd. (“HNTU”). The Bonds are unconditionally and irrevocably guaranteed by HNTU’s direct controlling shareholder, Hubei Guanggudong State-owned Capital Investment and Operation Group Co., Ltd., also known as Hubei Optics Valley East State-owned Capital Investment and Operation Group Co., Ltd. (“HOVE”; ‘BBB/Stable’).
HNTU intends to use the net proceeds from this offering for project construction and supplement of working capital.