Hong Kong’s Mega Wisdom Global begins tender offer for $300 million notes due 2020

By Cady Vishniac

Detroit, Oct. 28 – Mega Wisdom Global Ltd. launched a tender offer to purchase for cash all of the company’s $300 million outstanding 5˝% guaranteed notes due 2020 (ISIN: XS2093875065).

The notes are guaranteed by Fortune Joy Ventures Ltd. and Sino-Ocean Capital Holding Ltd.

The companies are offering to pay a tender price of $1,002 per $1,000 principal amount of notes. The companies will also pay accrued interest up to but excluding the settlement date, Nov. 10.

The offer will expire at 11 a.m. ET on Nov. 4.

The companies expect to announce the amount of securities accepted on Nov. 5.

The company also announced that it will offer new senior unsecured and guaranteed debt securities with the benefit of a keepwell deed by Sino-Ocean Group Holding Ltd.

The new notes may price before the tender offer expires. Those who have tendered the 2020 notes will be given preference in the purchase of the new Regulation S only notes.

Tenders may not be withdrawn.

Haitong International Securities Co. Ltd. is the dealer manager for the tender offer.

Morrow Sodali Ltd. (+852 2158 8404, +44 208 089 3287, sinooceancapital@investor.morrowsodali.com, https://bonds.morrowsodali.com/sinooceancapital) is the tender and information agent.

The property developer is based in Hong Kong.

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