By Rebecca Melvin
New York, Jan. 13 – Future Diamond Ltd. priced a $20 million add-on to its 5.45% notes due 2021 at 100.45 according to a supplemental offering memorandum.
The notes will be consolidated to form a single series with the $80 million of 5.45% notes which priced on Oct. 28.
The notes are guaranteed by Seazen Group Ltd. and Seazen Resources Capital Group Ltd.
They are callable at the issuer’s option at par plus a make-whole premium. They also have a clean-up call at 105.45% and a change of control put at 101%.
CMB International Capital Ltd., Huatai Financial Holdings (Hong Kong) Ltd., Haitong International Securities Co. Ltd., and Seazen Resources Securities Ltd. were the joint lead managers and bookrunners of the Regulation S issue.
The real estate management and development company is based in Shanghai, China.
| Issuer: | Future Diamond Ltd.
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| Guarantors: | Seazen Group Ltd. and Seazen Resources Capital Group Ltd.
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| Issue: | Guaranteed senior notes
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| Amount: | $20 million
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| Maturity: | Oct. 27, 2021
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| Bookrunners: | CMB International Capital Ltd., Huatai Financial Holdings (Hong Kong) Ltd., Haitong International Securities Co. Ltd., and Seazen Resources Securities Ltd.
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| Coupon: | 5.45%
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| Price: | 100.45
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| Calls: | At par plus a make-whole premium
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| Clean-up call: | Up to 35% for 105.45%
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| Puts: | Change of control put at 101%
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| Issue date: | Dec. 18
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| Distribution: | Regulation S
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| Total deal size: | $100 million
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