China’s Fantasia offers to buy back 8 3/8% senior notes due 2021

By Marisa Wong

Los Angeles, Jan. 6 – Fantasia Holdings Group Co., Ltd. is offering to purchase for cash up to a maximum amount of its $600 million of 8 3/8% senior notes due 2021.

The company is offering to purchase the notes at $1,012 per $1,000 principal amount. Holders will also receive accrued interest.

The tender offer expires at 11 a.m. ET on Jan. 14.

The tender offer is conditioned on the company completing a separate but concurrent offering of new notes. The maximum acceptance amount under the tender offer will be up to the new issue amount. The company said it expects to announce the tender cap on Jan. 15.

Notes will be purchased on a pro rata basis if the tender cap is exceeded.

UBS and Barclays are dealer managers for the offer. D.F. King Ltd. is the information and tender agent.

Fantasia is a property development company based in Shenzhen, China.

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