China’s Kaisa plans to add to $300 million 11¼% notes due 2025

By Rebecca Melvin

New York, Sept. 2 – Kaisa Group Holdings Ltd. plans to price an additional issue of notes to be consolidated and form a single series with $300 million 11¼% senior notes due 2025.

The original 11¼% senior notes due April 16, 2025 priced at 98.994 on July 8.

Credit Suisse, Deutsche Bank, ABC International, Barclays, BOC International, China Citic Bank International, Guotai Junan International, Haitong International and UBS will be the joint global coordinators, joint bookrunners and joint lead managers, and Fulbright Securities Ltd., Hung Sing Securities Ltd. and Kaisa Financial Group are the joint bookrunners and joint lead managers of the proposed additional notes issue. The banks are also expected to be initial purchasers of the notes.

Kaisa is a Shenzhen, China-based property development company.

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