| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Kaisa Group Holdings Ltd. > News item |
China’s Kaisa Group solicits consents to amend four series of notes
By Marisa Wong
Madison, Wis., June 9 – Kaisa Group Holdings Ltd. said it is soliciting consents to amend its 12 7/8% senior notes due 2017, 10¼% senior notes due 2020, 8 7/8% senior notes due 2018 and 6 7/8% senior notes due 2016.
The proposed amendments would conform the terms of those four series of existing notes with the terms of Kaisa’s recently issued 9% senior notes due 2019.
In order to participate, holders must be of record as of 11 a.m. ET on June 6 for the 2017 and 2020 notes, 5 p.m. ET on June 6 for the 2018 notes and 6 a.m. ET on June 6 for the 2016 notes.
The company is offering holders a consent fee of $3.75 for each $1,000 principal amount of 2017, 2020 or 2018 notes and RMB 375 for each RMB 100,000 principal amount of 2016 notes.
The expiration time is 11 a.m. ET on June 20 for the 2017 and 2020 notes, 5 p.m. ET on June 20 for the 2018 notes and 5 a.m. ET on June 27 for the 2016 notes.
The consent solicitation is conditioned on the company receiving consents from holders of a majority in principal amount of the outstanding notes of each series.
Citigroup Global Markets Ltd. (+44 20 7986 9000; Citigroup Global Markets Asia Ltd. at +852 2501 2552, liabilitymanagement.asia@citi.com; Citigroup Global Markets Inc. at 212 723-3600) and Credit Suisse Securities (Europe) Ltd. (+44 (0) 20 7888 5564) are the solicitation agents for the consent solicitation.
Citibank, NA, London Branch (+44 (0) 20 7508 3867) is the information and tabulation agent for the 2017, 2020 and 2018 notes, and Citicorp International Ltd. is the information and tabulation agent for the 2016 notes.
Kaisa Group is a Shenzhen, China-based property development company.
© 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.