By Marisa Wong
Los Angeles, Dec. 16 – China’s Kaisa Group Holdings Ltd. priced $150 million of additional 6½% senior notes due Dec. 7, 2021 at 100.915, according to a notice.
The additional notes will be consolidated and form a single series with the $250 million of 6½% one-year notes issued on Dec. 7. The original tranche was priced at 99.527.
Credit Suisse (Hong Kong) Ltd. and BOCI Asia Ltd. are the joint global coordinators, joint bookrunners and joint lead managers for the Regulation S add-on.
The company intends to use the proceeds to refinance existing debt.
Kaisa is a Shenzhen, China-based property development company.
| Issuer: | Kaisa Group Holdings Ltd.
|
| Issue: | Senior notes, add-on
|
| Amount: | $150 million
|
| Maturity: | Dec. 7, 2021
|
| Bookrunners: | Credit Suisse (Hong Kong) Ltd. and BOCI Asia Ltd.
|
| Coupon: | 6½%
|
| Price: | 100.915
|
| Call option: | In whole or in part at any time at make-whole amount
|
| Equity clawback: | Up to 35% at 106.5
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 23
|
| Distribution: | Regulation S
|
| Total issuance: | $400 million, including $250 million issued on Dec. 7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
