Published on 2/13/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s Kaisa sells $400 million 6¾% senior notes due 2021 at par
By Sarah Lizee
Olympia, Wash., Feb. 13 – Kaisa Group Holdings Ltd. sold $400 million of 6¾% senior notes due 2021 at par on Thursday, according to a notice.
Credit Suisse and Deutsche Bank are the joint global coordinators, as well as joint bookrunners and joint lead managers along with Kaisa Financial Group.
Kaisa is a property development company based in Shenzhen, China.
Issuer: | Kaisa Group Holdings Ltd.
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Issue: | Senior notes
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Amount: | $400 million
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Maturity: | Feb. 18, 2021
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Managers: | Credit Suisse, Deutsche Bank, (joint global coordinators), Kaisa Financial Group
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Coupon: | 6¾%
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Price: | Par
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Yield: | 6¾%
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Call: | Make-whole call until Feb. 18, 2021
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Equity clawback: | For up to 35% at 106.75 at any time
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Pricing date: | Feb. 13
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Settlement date: | Feb. 18
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Distribution: | Regulation S
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