New Issue: China’s Guangzhou R&F Properties prices $500 million 5 7/8% notes due 2023 at par

By Wendy Van Sickle

Columbus, Ohio, Nov. 13 – China’s Guangzhou R&F Properties Co. Ltd. – via Easy Tactic Ltd. – sold $500 million of 5 7/8% notes due Jan. 13, 2023 (//BB) at par on Monday, according to a filing from the company.

Goldman Sachs, China Silk Road International, CITIC CLSA Securities, Deutsche Bank, Guotai Junan International, Sun Securities, Industrial Bank Co., Ltd. Hong Kong Branch, China CITIC Bank International, CMB International, Morgan Stanley, Citigroup and Haitong International were the bookrunners for the Regulation S deal.

The proceeds will be used to refinance debt and for general corporate purposes.

The real estate company is based in Guangzhou, China.

Issuer:	Easy Tactic Ltd.
Guarantor:	Guangzhou R&F Properties Co. Ltd.
Amount:	$500 million
Maturity:	Feb. 13, 2023
Description:	Senior notes
Bookrunners:	Goldman Sachs, China Silk Road International, CITIC CLSA Securities, Deutsche Bank, Guotai Junan International, Sun Securities, Industrial Bank Co., Ltd. Hong Kong Branch, China CITIC Bank International, CMB International, Morgan Stanley, Citigroup and Haitong International
Coupon:	5 7/8%
Price:	Par
Yield:	5 7/8%
Call options:	Make-whole call before Nov. 17, 2020, then 102.9375 starting on Nov. 17, 2020; 101.46875 on Nov. 17, 2021
Trade date:	Nov. 13
Settlement date:	Nov. 17
Ratings:	Fitch: BB
Distribution:	Regulation S

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