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Kaisa Group offers to purchase outstanding 6¾% senior notes due 2021
By Cady Vishniac
Detroit, Nov. 9 – Kaisa Group Holdings Ltd. began a tender offer to purchase for cash all of its outstanding 6¾% senior notes due 2021 (ISIN: XS2122175495), according to a news release.
There is currently $376 million of the notes outstanding.
The offer will expire at 11 a.m. ET Nov. 17.
Holders who tender their notes by the expiration deadline will be eligible to receive a total consideration of $1,006 per $1,000 of the notes, plus accrued interest.
The offer is subject to proration.
The settlement date is expected to be Nov. 19, with results announced as soon as possible after the expiration deadline.
Funding for the offer will come from internal resources and a new offering of senior notes.
Credit Suisse and Deutsche Bank are the dealer managers for the offer.
Morrow Sodali Ltd. (+44 20 8089 3287, +852 2158 8405, kaisa@investor.morrowsodali.com, https://bonds.morrowsodali.com/kaisa) is the information and tender agent.
Kaisa Group is a Shenzhen, China-based property development company.
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