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Published on 1/10/2020 in the Prospect News Emerging Markets Daily.

New Issue: Hong Kong’s Mingfa prices $220 million 15% one-year bonds at par

By Rebecca Melvin

New York, Jan. 10 – Mingfa Group (International) Co. Ltd. priced $220 million of 15% one-year bonds on Friday, according to a company announcement.

The bonds are being sold at par via Head & Shoulders Securities Ltd. as placement agent for the best-efforts offering.

The bonds are putable at 101 upon a change of control.

Proceeds from the Regulation S sale will be used to refinance existing debt and for general corporate purposes.

Mingfa is a real estate developer based in Hong Kong.

Issuer:Minga Group (International) Co. Ltd.
Issue:Bonds
Amount:$220 million
Maturity:Jan. 13, 2021
Placement agent:Head & Shoulders Securities Ltd.
Coupon:15%
Price:Par
Yield:15%
Change-of-control put:At 101%
Pricing date:Jan. 10
Closing date:Jan. 15
Distribution:Regulation S

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