New Issue: China’s Kaisa prices $400 million three-year 11.95% notes at 99.265

By Wendy Van Sickle

Columbus, Ohio, Oct. 15 – Kaisa Group Holdings Ltd. priced $400 million 11.95% senior notes due 2022 at 99.265 on Tuesday, according to a listing announcement.

Credit Suisse, Deutsche, Bank, Barclays, BOC International, China Citic Bank International, Guotai Junan International, Haitong International and Fulbright Securities 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.
Issue:	Senior notes
Amount:	$400 million
Coupon:	11.95%
Price:	99.265
Maturity:	Oct. 22, 2022
Bookrunners:	Credit Suisse, Deutsche, Bank, Barclays, BOC International, China Citic Bank International, Guotai Junan International, Haitong International and Fulbright Securities Ltd.
Call:	Make-whole call until Oct. 22, 2021, then callable at 103
Equity clawback:	For up to 35% at 111.95 at any time
Pricing date:	Oct. 15
Distribution:	Regulation S
Ratings:	Fitch: B
	Moody’s: B2

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