New Issue: China’s Logan Property sells $400 million of 6½% senior notes due 2023

By Sarah Lizee

Olympia, Wash., July 9 – Logan Property Holdings Co. Ltd. sold $400 million of 6½% senior notes (B+) due 2023, according to a notice.

Deutsche Bank, BOC International, Barclays, China Citic Bank International, Haitong International, Guotai Junan International, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch are the bookrunners for the Regulation S offering.

Proceeds will be used for refinancing debt.

Logan Property is a Shenzhen, China-based real estate development company.

Issue:	Logan Property Holdings Co. Ltd.
Issue:	Senior notes
Amount:	$400 million
Maturity:	July 16, 2023
Bookrunners:	Deutsche Bank, BOC International, Barclays, China Citic Bank International, Haitong International, Guotai Junan International, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch
Coupon:	6½%
Call:	At 102 starting July 16, 2021, at 101 from July 16, 2022 and par from Jan. 16, 2023
Equity clawback:	For up to 35% at 106.5 at any time prior to July 16, 2021
Pricing date:	July 9
Settlement date:	July 16
Rating:	S&P: B+
Distribution:	Regulation S

© 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.