New Issue: China’s Logan Group prices $300 million 4¼% notes due 2025

By Wendy Van Sickle

Columbus, Ohio, April 1 – Logan Group Co. Ltd. priced $300 million of 4¼% senior notes due 2025 (Ba3//BB/Lianhe: BBB-) on Thursday, according to a company announcement.

Deutsche Bank, UBS, Credit Suisse, Guotai Junan International, Haitong International, China Citic Bank International, Citigroup, Barclays, Standard Chartered Bank, CMBC Capital and BNP Paribas are the global coordinators, bookrunners and lead managers for the Regulation S offering.

Proceeds will be used to refinance existing debt.

Formerly Logan Property Holdings Co. Ltd., Logan Group is an investment holding company and property developer based in Shenzhen, China.

Issuer:	Logan Group Co. Ltd.
Issue:	Senior notes
Amount:	$300 million
Maturity:	July 12, 2025
Bookrunners:	Deutsche Bank, UBS, Credit Suisse, Guotai Junan International, Haitong International, China Citic Bank International, Citigroup, Barclays, Standard Chartered Bank, CMBC Capital and BNP Paribas
Coupon:	4¼%
Call:	Make-whole call until July 12, 2023, then at 102 in 2023 and 101 in 2024
Equity clawback:	For 35% at 104.25 before July 12, 2023
Pricing date:	April 1
Ratings:	Moody’s: Ba3
	Fitch: BB
	Lianhe: BBB-
Distribution:	Regulation S

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