BOND COMPLEXITY : MODERATEISIN: XS3084116055
HONGQI 6.925% 29Nov2028 Corp (USD)
CHINA HONGQIAO GROUP LIMITED
Indicative Bid Price
103.100
Bid Yield to Maturity
5.522%
Min. Investment (Nominal)
200000
Indicative Ask Price
103.583
Ask Yield to Maturity
5.308%
Maturity Date
28 Nov 2028
Credit Rating (Bond)
BB+
Non-Investment Grade
Seniority
Senior Unsecured
Investor Profile
High Yield Seeker
Chart
Created with Highcharts 9.3.2Chart context menuBid Yield to MaturityAsk Yield to Maturity4. Jun6. Jun8. Jun10. Jun12. Jun14. Jun16. Jun18. Jun20. Jun22. Jun24. Jun26. Jun28. Jun30. Jun2. Jul5.15.25.35.45.55.6FSM Global
Bond Information
China Hongqiao Group Ltd. manufactures aluminum products. The Company's aluminum products consist of molten aluminum alloy, aluminum alloy ingots and aluminum busbars.
Bond Issuer
China Hongqiao Group Limited
Guarantor
Subsidiaries
Announcement Date
21 May 2025
Issue Date
28 May 2025
Maturity Date / Next Call Date
28 Nov 2028 (Maturity Date)
Years to Maturity / Next Call
2.402 / -
Issue/Reoffer Price
100.000
Issue/Reoffer Yield
6.925
Coupon Type
Fixed
Annual Coupon Rate (%)
6.925
Annual Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Exchange Listed
SGX
Reference Rate
-
ISIN
XS3084116055
CUSIP
YO7837272
Bond Currency
USD
Total Issue Size
USD 270,000,000
Minimum Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 1,000
Bond Registration
Wholesale
Bond Type
High Yield Corporate
Bond Sector
Materials
Bond Sub Sector
Metals and Mining
Issuer Credit Rating (S&P/ Fitch)
***/BB+
Bond Credit Rating (S&P/ Fitch)
***/BB+
Shariah Compliant
No
W-8BEN Declaration needed 
No
Bond Feature(s)
Not later than 30 days following a Change of Control, the Company will make an Offer to Purchase all outstanding Notes at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to (but not including) the Offer to Purchase Payment Date.

‘‘Change of Control’’ means the occurrence of one or more of the following events:

(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Restricted Subsidiaries, taken as a whole, to any ‘‘person’’ (within the meaning of Section 13(d) of the Exchange Act), other than one or more Permitted Holders;

(2) the Company consolidates with, or merges with or into, any Person (other than one or more Permitted Holders), or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the Voting Stock of the Company outstanding immediately prior to such transaction is converted into or exchanged for (or continues as) Voting Stock (other than Disqualified Stock) of the surviving or transferee Person constituting a majority of the outstanding shares of Voting Stock of such surviving or transferee Person (immediately after giving effect to such issuance) and in substantially the same proportion as before the transaction;

(3) the Permitted Holders are the beneficial owners (as such term is used in Rule 13d-3 of the Exchange Act) of less than 50.1% of the total voting power of the Voting Stock of the Company;

(4) individuals who on the Original Issue Date constituted the Board of Directors (together with any new directors whose election or nomination was approved by a vote of at least two-thirds of the members of the Board of Directors then in office who were members of the Board of Directors on the Original Issue Date or whose election was previously so approved) cease for any reason to constitute a majority of the members of the Board of Directors then in office; or

(5) the adoption of a plan relating to the liquidation or dissolution of the Company.
At any time prior to November 29, 2028, the Company may at its option redeem the Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including), the redemption date. Neither the Trustee nor any of the Agents shall be responsible for verifying or calculating the Applicable Premium.

‘‘Applicable Premium’’ means, with respect to a Note at any redemption date, the greater of (i) 1.00% of the principal amount of such Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such Note on November 29, 2028, plus all required remaining scheduled interest payments due on such Note through November 29, 2028 (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate plus 100 basis points, over (B) the principal amount of such Note on such redemption date.
At any time and from time to time prior to November 29, 2028, the Company may at its option redeem up to 35% of the aggregate principal amount of the Notes with the Net Cash Proceeds of one or more sales of Common Stock of the Company in an Equity Offering at a redemption price of 106.925% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to (but not including) the redemption date; provided that at least 65% of the aggregate principal amount of the Notes originally issued on the Original Issue Date remains outstanding after each such redemption and any such redemption takes place within 60 days after the closing of the related Equity Offering.

‘‘Equity Offering’’ means (i) any bona fide primary public offering or private placement of Common Stock of the Company after the Original Issue Date or (ii) any bona fide secondary public offering or secondary private placement of Common Stock of the Company beneficially owned by a Permitted Holder, after the Original Issue Date the net proceeds of which are contributed to the common equity capital of the Company; provided that the aggregate gross cash proceeds received by the Company from such transaction are no less than US$20.0 million (or the Dollar Equivalent thereof).
Price History
(Daily prices for the last 3 months), if you wish to view more than 3 months price history you may export the file
DATE
BID PRICE
ASK PRICE
ASK YIELD (MATURITY)
02 Jul 2026103.100103.5835.308
01 Jul 2026103.183103.6675.273
30 Jun 2026103.183103.6675.279
29 Jun 2026103.183103.6675.280
28 Jun 2026103.267103.7505.246
25 Jun 2026103.250103.8335.212
24 Jun 2026103.250103.8335.214
23 Jun 2026103.250103.8335.219
22 Jun 2026103.350103.8335.221
21 Jun 2026103.392103.8755.205
Total of 64 entries
10 / Page
FSM Global strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.
Credit Rating
CHANGE DATE
S&P Bond S&P Issuer Fitch Bond Fitch Issuer
29 Jun 2026 *** *** BB+BB+
Total of 1 entries
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Related Documents
pdfIcon
Preliminary Offering Circular
US$% Senior Notes due Issue Price: %. Preliminary Offering Circular dated May 22, 2025.
pdfIcon
Offering Circular
US$270,000,000 6.925% Senior Notes due 2028. Offering memorandum dated May 22, 2025.
Related Bonds

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FSM's Fees
For more information, please refer to the Pricing Structure
For each Buy & Sell Order (Retail^, Wholesale, Bond Express)
Processing Fee
0.35% / Min. SGD 10*
Platform Fee
0.05% per quarter
Other Charges
Goods & Services Tax (GST)
9% (GST is applicable to Singaporean residents on FSM’s fee)
Order Processing Time
Buy Wholesale Bonds / SGS Bonds / Retail (All payment type)
Generally T+2 business days upon payment clearance
Sell Wholesale Bonds / SGS Bonds / Retail Bonds
Generally T+2 business days (Redemption proceeds will be credited on next day)
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Remark

  1. *Processing fee is subjected to a minimum of SGD 10 (or in its equivalent currency).
  2. ^ For the purchase of the Retail Bonds, FSM Global will be absorbing SGX related Charges, till further notice.
  3. T = Transaction Date
    The Order processing time refers to the order completion and reflected in your account.
    ^The Purchase date will be based on T date

Platform Charge
  1. For the purpose of benefiting from lower rates based on higher investment holding tiers, the effective platform fee rate is based on the total combined holdings of all FSM accounts under main account holder (including beneficiary accounts), while Stock / ETF / Cash Account holdings are excluded from the combined holdings amount.
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Note
  1. All fees and commission quoted are exclusive of Goods and Services Tax (GST).
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Potential Income Explained
EDIT
Est. Payable Amount
USD 209,737.19
Years to Maturity
2 years 4+ months
Est. Total Income
USD 34,625.00
Yield to Maturity
4.905%
Indicative Cash Flow
Nominal Value
USD 200,000.00
  • 2028
    Nov
    Coupon
    USD 6,925.00
    Maturity
    USD 200,000.00
  • May
    Coupon
    USD 6,925.00
  • 2027
    Nov
    Coupon
    USD 6,925.00
  • May
    Coupon
    USD 6,925.00
  • 2026
    Nov
    Coupon
    USD 6,925.00
Disclaimer: Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.
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