By Aaron Hochman-Zimmerman
New York, Oct. 10 - Hang Fung Gold Technology Ltd. priced $170 million of seven-year senior notes (Ba3/BB/) at par with a coupon of 9¼%, according to a market source.
The Regulation S deal grew from its original size of $150 million.
HSBC acted as bookrunner.
The bonds due Oct. 17, 2014 feature four years of call protection.
Proceeds will be used to repay existing debt and to expand the number of retail outlets in China.
The jewelry manufacturer and retailer is based in Hong Kong.
| Issuer: | Hang Fung Gold Technology Ltd.
|
| Amount: | $170 million
|
| Issue: | Seven-year senior notes
|
| Maturity: | Oct 17, 2014
|
| Coupon: | 9¼%
|
| Price: | Par
|
| Yield: | 9¼%
|
| Call: | After four years
|
| Bookrunner: | HSBC
|
| Pricing date: | Oct. 10
|
| Settlement date: | Oct. 17
|
| Rating: | Moody's: Ba3
|
| Standard & Poor's: BB
|
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