By Lisa Kerner
Charlotte, N.C., Aug. 9 - Q Lotus Holdings, Inc. issued two 6.25% secured collateralized corporate notes, series 2012A, each for $500 million, to Cede & Co., according to an 8-K filed Thursday with the Securities and Exchange Commission.
The notes mature on July 30, 2015 and are callable at 101% of par beginning July 30, 2013.
The notes were issued on July 30 under a partnership agreement with Q Lotus Holdings Ltd.
Under the agreement, Q Lotus may issue up to $3 billion of notes for the benefit of Tan Chong Yang, Terrence, who will raise $70 million to $75 million by pledging the initial notes as collateral, the filing said.
Q Lotus is a multi-industry holding company based in Chicago.
Issuer: | Q Lotus Holdings, Inc.
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Issue: | Secured collateralized corporate notes, series 2012A
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Amount: | $1 billion
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Maturity: | July 30, 2015
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Coupon: | 6.25%
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Call option: | At 101% of par beginning July 30, 2013
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Settlement date: | July 30
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Purchaser: | Cede & Co.
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