By Christine Van Dusen
Atlanta, Jan. 12 – Evergrande Real Estate Group Ltd. priced $400 million 7.8% notes due 2019 at 99.625 in a private issue on Monday, according to a company filing.
The notes were sold to a single buyer.
As previously reported, the company also sold $300 million 8% notes due Jan. 15, 2019 (expected ratings: B3/B/BB-) at par to yield 8%, matching talk.
Credit Suisse, China Merchants Securities and Haitong International were the bookrunners for the Regulation S deal.
The proceeds will be used for refinancing existing debt and for general working capital purposes.
The real estate developer is based in Guangzhou, China.
| Issuer: | Evergrande Real Estate Group Ltd.
|
| Amount: | $400 million
|
| Maturity: | 2019
|
| Description: | Private notes
|
| Bookrunners: | Credit Suisse, China Merchants Securities (HK), Haitong International
|
| Coupon: | 7.8%
|
| Price: | 99.625
|
| Trade date: | Jan. 11
|
| Distribution: | Private placement
|
|
|
|
|
© 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.
