By Rebecca Melvin
Concord, N.H., July 16 – Estate Sky Ltd. priced $300 million 5.45% notes due 2025, which are guaranteed by CSI Properties Ltd., according to a company announcement.
The Regulation S notes priced at par. They may be redeemed after July 21, 2024 at 101, and there is a change-of-control put at 101.
HSBC, Ltd., UBS AG Hong Kong Branch, J.P. Morgan Securities plc, Credit Suisse (Hong Kong) Ltd., Bank of East Asia Ltd., CMB International Capital Ltd., DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. were joint lead managers and joint bookrunners. HSBC, UBS, J.P. Morgan and Credit Suisse were also joint global coordinators.
Proceeds will be used by the company and members of the larger group for general working capital and debt repayment.
The issuance has approval in-principal for listing on the Singapore Stock Exchange.
CSI is a Hong-Kong based investment holding company primarily engaged in property development.
| Issuer: | CSI Properties Ltd.
|
| Guarantor: | Estate Sky Ltd.
|
| Issue: | Guaranteed senior notes
|
| Amount: | $300 million
|
| Maturity: | July 21, 2025
|
| Bookrunners: | HSBC, Ltd., UBS AG Hong Kong Branch, J.P. Morgan Securities plc, Credit Suisse (Hong Kong) Ltd., Bank of East Asia Ltd., CMB International Capital Ltd., DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
|
| Coupon: | 5.45%
|
| Issue date: | July 15
|
| Settlement: | July 21
|
| Distribution: | Regulation S
|
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