By William Gullotti
Buffalo, N.Y., Sept. 1 – Kaisa Group Holdings Ltd. sold $300 million of 10˝% one-year senior notes at 99.54 on Tuesday, according to a published purchase agreement.
The notes can be redeemed at any time at par plus a premium at the company’s option.
Credit Suisse (Hong Kong) Ltd., Guotai Junan Securities (Hong Kong) Ltd., HSBC Ltd., Haitong International Securities Co. Ltd. and UBS AG Hong Kong Branch are the joint global coordinators, joint bookrunners and joint lead managers for the offering.
Also serving as joint lead managers and joint bookrunners are BOCI Asia Ltd. and China Citic Bank International Ltd.
Proceeds will be used to refinance existing debt and for general corporate purposes.
The Regulation S notes will be listed on the SGX-ST.
Kaisa Group is a Shenzhen, China-based property development company.
| Issuer: | Kaisa Group Holdings Ltd.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | Sept. 7, 2022
|
| Bookrunners: | Credit Suisse (Hong Kong) Ltd., Guotai Junan Securities (Hong Kong) Ltd., HSBC Ltd., Haitong International Securities Co. Ltd., UBS AG Hong Kong Branch, BOCI Asia Ltd. and China Citic Bank International Ltd.
|
| Co-managers: | Kingston Securities Ltd., Fulbright Securities Ltd. and Hung Sing Securities Ltd.
|
| Trustee: | Citicorp International Ltd.
|
| Coupon: | 10˝%
|
| Price: | 99.54
|
| Call: | Any time at par plus a premium
|
| Equity clawback: | Up to 35% at 110.5 plus interest
|
| Trade date: | Aug. 31
|
| Distribution: | Regulation S
|
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