China’s Kaisa tenders for $300 million 12% notes due 2019

By Wendy Van Sickle

Columbus, Ohio, July 23 – Kaisa Group Holdings Ltd. began a cash tender offer for any and all of its $300 million of 12% senior notes due 2019, according to a notice.

The company is offering $1,030 per $1,000 principal amount of notes.

Kaisa will also pay accrued interest on the notes.

The offer expires at 11 a.m. ET on Aug. 1.

The company plans to fund the redemption with proceeds of new notes issued so far in 2019.

The notes may be tendered only in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof.

China Citic Bank International is acting as the dealer manager.

D.F. King (+44 20 7920 9700, 852 3953 7230 or kaisa@dfkingltd.com) is the information and tender agent.

Kaisa is a Shenzhen, China-based property development company.

© 2015 Prospect News.
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