Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item |
Haimen Zhongnan begins exchange offer for 10 7/8% notes due 2022
Chicago, March 22 – China’s Haimen Zhongnan Investment Development (International) Co., Ltd. commenced an exchange offer for any and all of its $500 million outstanding 10 7/8% guaranteed senior notes due 2022 (ISIN: XS2008677341), according to an announcement.
The issuer is offering $1,000 of new notes for each $1,000 of old notes plus $20 in cash and also accrued interest.
The issuer is also conducting a concurrent offering of new notes. The new notes will be on the same terms and form a single series with the notes in the exchange offer.
The minimum yield of the new notes will be 11½%. Pricing on the new notes will be set on March 29.
The expiration deadline is noon ET on March 26.
Settlement is planned for April 1.
Listing of the new notes is expected for April 7.
Guotai Junan Securities (Hong Kong) Ltd. and Standard Chartered Bank are dealer managers for the exchange offer.
D.F. King Ltd. is the information and exchange agent (+44 20 7920 9700, +852 3953 7208, zhongnan@dfkingltd.com, https://sites.dfkingltd.com/zhongnan).
The property development and construction services company operates in the Jiangsu Province.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.