Published on 9/3/2020 in the Prospect News Emerging Markets Daily.
New Issue: Kaisa sells $400 million more 11¼% notes due 2025 at 101.641
Chicago, Sept. 3 – China’s Kaisa Group Holdings Ltd. sold a $400 million add-on to its 11¼% senior notes due April 16, 2025 at 101.641, according to an announcement.
The additional notes will be consolidated and form a single series with the $300 million of notes which priced at 98.994 on July 8.
Credit Suisse, Deutsche Bank, ABC International, Barclays, BOC International, China Citic Bank International, CMBC Capital, 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 additional notes issue. The banks are also expected to be initial purchasers of the notes.
Kaisa is a Shenzhen, China-based property development company.
| Issuer: | Kaisa Group Holdings Ltd.
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| Issue: | Senior notes
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| Amount: | $400 million
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| Maturity: | April 16, 2025
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| Global coordinators: | Credit Suisse, Deutsche Bank, ABC International, Barclays, BOC International, China Citic Bank International, CMBC Capital, Guotai Junan International, Haitong International, UBS, Fulbright Securities Ltd., Hung Sing Securities Ltd., Kaisa Financial Group
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| Coupon: | 11¼%
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| Price: | 101.641
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| Pricing date: | Sept. 2
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| Distribution: | Regulation S
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| Original issue: | $300 million priced on July 8, 2020 at 98.994
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