New Issue: China’s Hopson Development sells $500 million 7½% three-year bonds

Chicago, June 20 – Hopson Development Holdings Ltd. said it priced $500 million senior notes (//B+) due June 27, 2022 with a coupon of 7½%, according to a company notice.

The Regulation S notes will be used for project investments, constructions, refinancing and general corporate purposes.

China International Capital Corp., HSBC, Silk Road International, CCB International, Haitong International, HeungKong Financial and DBS Bank Ltd. are the joint global coordinators, joint lead managers and joint bookrunners. Bank of East Asia, Ltd., ABC International and Orient Securities (Hong Kong) are the joint lead managers and joint bookrunners for the issue.

Hopson is a real estate company based in Guangzhou, China.

Issuer:	Hopson Development Holdings Ltd.
Issue:	Senior bonds
Amount:	$500 million
Maturity:	June 27, 2022
Coupon:	7½%
Bookrunners:	China International Capital Corp., HSBC, Silk Road International, CCB International, Haitong International, HeungKong Financial, DBS Bank Ltd. Bank of East Asia, Ltd., ABC International and Orient Securities (Hong Kong)
Call option:	On or after June 27, 2021 at 103.75 plus interest; prior to June 27, 2021 at par plus an applicable premium plus interest
Equity clawback:	Up to 35% at 107.5% plus interest
Change-of-control put:	101%
Put option:	At par on June 27, 2021
Pricing date:	June 20
Ratings:	Fitch: B+
Distribution:	Regulation S

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