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
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.