By Wendy Van Sickle
Columbus, Ohio, Feb. 19 – Kaisa Group Holdings Ltd. priced $400 million 11¾% senior notes due 2021 at 99.567 on Tuesday, according to a listing announcement.
China Citic Bank International, Credit Suisse, Deutsche Bank and Haitong International were the joint global coordinators, joint bookrunners and, together with Founder Securities (Hong Kong) Capital Co. Ltd., are joint lead managers for the Regulation S offering.
Proceeds will be used to refinance existing debt.
Kaisa Group is a Shenzhen, China-based property development company.
| Issuer: | Kaisa Group Holdings Ltd.
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| Issue: | Senior notes
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| Amount: | $400 million
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| Coupon: | 11¾%
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| Price: | 99.567
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| Maturity: | Feb. 26, 2021
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| Bookrunners: | China Citic Bank International, Credit Suisse, Deutsche Bank and Haitong International
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| Call: | Make-whole call at any time
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| Equity clawback: | For up to 35% at 111.75 at any time
|
| Pricing date: | Feb. 19
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| Listing date: | Feb. 26
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| Distribution: | Regulation S
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