By Rebecca Melvin
New York, Nov. 4 – Kaisa Group Holdings Ltd. priced $300 million 11.95% senior notes due 2023 at par on Monday, according to a listing announcement.
Haitong International is the global coordinator, bookrunner and lead manager for the Regulation S notes.
The company can redeem the notes at 104 in 2021 and at 102 in 2022.
Proceeds will be used to refinance its existing medium- to long-term debt, which is due within one year.
Kaisa Group is a Shenzhen, China-based property development company.
| Issuer: | Kaisa Group Holdings Ltd.
|
| Issue: | Senior notes
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| Amount: | $400 million
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| Maturity: | 2023
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| Bookrunner: | Haitong International
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| Coupon: | 11.95%
|
| Price: | Par
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| Yield: | 11.95%
|
| Call: | Make-whole call until Nov. 21, 2021, then callable at 104 until 2022 when it is callable at 102
|
| Equity clawback: | For up to 35% at 111.95 at any time
|
| Pricing date: | Nov. 4
|
| Distribution: | Regulation S
|
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