By Wendy Van Sickle
Columbus, Ohio, June 21 – Shimao Property Holdings Ltd. priced an additional RMB 1.2 billion of 5¾% notes due 2021 on Thursday at par plus accrued interest from March 15 to but excluding July 3, according to an announcement.
The notes will be consolidated and form a single series with the RMB 950 million of 5¾% three-year notes issued on March 15.
HSBC and Goldman Sachs (Asia) were the joint global coordinators, joint bookrunners and joint lead managers for the Regulation S offering.
Proceeds will be used to refinance existing debt and for business development and other general corporate purposes.
There is a make-whole call option until March 15, 2020 when the notes become callable at 102 plus accrued interest through maturity.
There is an equity clawback for up to 35% of the notes at 105.75 at any time prior to March 15, 2020.
Proceeds will be used to refinance existing debt and for business development and other general corporate purposes.
The real estate development company is based in Hong Kong.
| Issuer: | Shimao Property Holdings Ltd.
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| Issue: | Senior notes
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| Amount: | RMB 1.2 billion add-on (will form single series with RMB 950 million notes issued March 15)
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| Maturity: | March 15, 2021
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| Underwriter: | HSBC
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| Coupon: | 5¾%
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| Price: | Par plus accrued interest from March 15 to but excluding July 3
|
| Call: | On or after March 15, 2020 at 102 plus accrued interest; make-whole call until then
|
| Equity clawback: | For up to 35% at 105.75 at any time prior to March 15, 2020
|
| Pricing date: | June 21
|
| Issue date: | July 3
|
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