China's Hengdeli plans to issue dollar-denominated senior notes

By Susanna Moon

Chicago, Jan. 15 - Hengdeli Holdings Ltd. said it plans to issue dollar-denominated senior notes.

Proceeds will be used to redeem the company's outstanding HK$2.5 billion of 2.5% convertible bonds due 2015, to refinance other debt and for general corporate purposes.

Deutsche Bank AG, Singapore Branch, Standard Chartered Bank and J.P. Morgan Securities plc are the joint global coordinators, and Deutsche Bank, Standard Chartered Bank, J.P. Morgan and HSBC Ltd. are the joint bookrunners and joint lead managers.

The deal terms will be set later, according to a company press release.

Hengdeli is a Hong Kong-based watch retailer and wholesaler.

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