By Wendy Van Sickle
Columbus, Ohio, July 21 – Hopson Development Holdings Ltd. priced a $37.5 million add-on to its 6.8% senior notes due Dec. 28, 2023, which are guaranteed by subsidiary guarantors, according to a notice.
The notes (//B+) priced at 99.992135. They are callable prior to Nov. 28, 2023 for par plus a premium and accrued interest. After Nov. 28, 2023, the company may call the notes at par plus interest.
There is an equity clawback for up to 35% of the notes at a redemption price of 106.8 plus accrued and unpaid interest.
China International Capital Corp., CMB International, Vision Capital International and Bocom International are the global coordinators for the Regulation S deal and are joined as bookrunners and lead managers by Harmony Advisors Ltd. and Orient Securities (Hong Kong).
Proceeds will be used to refinance existing debt.
Hopson is a residential real estate company based in Guangzhou, China.
| Issuer: | Hopson Development Holdings Ltd.
|
| Guarantors: | Subsidiary guarantors
|
| Issue: | Guaranteed senior notes
|
| Amount: | $37.5 million add-on
|
| Maturity: | Dec. 28, 2023
|
| Bookrunners: | China International Capital Corp., CMB International, Vision Capital International and Bocom International (global coordinators) and Harmony Advisors Ltd. and Orient Securities (Hong Kong)
|
| Coupon: | 6.8%
|
| Price: | 99.992135
|
| Calls: | Par, plus a premium and interest prior to Nov. 28, 2023 and at par plus interest after Nov. 28, 2023
|
| Equity clawback: | Up to 35% of the notes at 106.8
|
| Pricing date: | July 21
|
| Rating: | Fitch: B+
|
| Distribution: | Regulation S
|
| Original issue: | $200 million priced on June 21
|
|
|
© 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.
