By Abigail W. Adams
Portland, Me., Jan. 27 – Logan Group Co. Ltd. priced HK$1.95 billion in cash-settled 6.95% equity linked securities due Aug. 4, 2026 at par with a strike price of HK$7.25 on Wednesday, according to a listing announcement with the Hong Kong Exchange.
UBS AG Hong Kong Branch was global coordinator and bookrunner for the Regulation S offering.
The notes are callable at an early redemption amount that will yield 7.95%.
They are putable on May 4, 2024.
Proceeds will be used to refinance debt but may be reallocated for other purposes pending market conditions.
Logan Group is a Shenzhen, China-based investment holding company primarily engaged in property development.
| Issuer: | Logan Group Co. Ltd.
|
| Amount: | HK$1.95 billion
|
| Issue: | Cash-settled equity-linked securities
|
| Maturity: | Aug. 4, 2026
|
| Bookrunner: | UBS AG Hong Kong Branch
|
| Coupon: | 6.95%
|
| Price: | Par
|
| Conversion price: | HK$7.25
|
| Call options: | Callable at a yield of 7.95%
|
| Put options: | Putable on May 4, 2024
|
| Pricing date: | Jan. 26
|
| Settlement date: | Feb. 4
|
| Distribution: | Regulation S
|
| Stock symbol: | HK: 3380
|
| Market capitalization: | HK$36.58 billion
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