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Kaisa Group gives tender results for 6¾% senior notes due 2021
By Cady Vishniac
Detroit, Nov. 19 – Kaisa Group Holdings Ltd. announced Wednesday that noteholders had tendered $151,387,000, or 40.26%, of its 6¾% senior notes due 2021 (ISIN: XS2122175495) in its tender offer, according to an announcement.
Kaisa will accept all notes tendered in the offer for purchase.
The repurchase price for the notes is $1,006 per $1,000 face amount of notes plus $16.6875 in interest.
The company will pay a total of $152,295,322 for the notes.
When the tender began Nov. 10, there were $376 million of the notes outstanding.
The offer expired at 11 a.m. ET Nov. 17.
Settlement is expected today.
Funding for the offer came from internal resources and a new offering of senior notes.
Credit Suisse and Deutsche Bank were 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) was the information and tender agent.
Kaisa Group is a Shenzhen, China-based property development company.
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