By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – Shandong Chenming Paper Holdings Ltd. priced $163 million of 9% notes due April 28, 2022 at par on Thursday, according to a company notice.
The bonds will be issued through the company’s Meilun (BVI) Ltd. subsidiary and will be guaranteed by the parent.
Zhongtai International, AMTD, Admiralty Harbour and ABC International are the global coordinators, bookrunners and lead managers for the Regulation S offering.
Proceeds will be used to refinance existing debt.
The paper manufacturer is based in Shandong, China.
| Issuer: | Meilun (BVI) Ltd.
|
| Guarantor: | Shandong Chenming Paper Holdings Ltd.
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| Issue: | Notes
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| Amount: | $163 million
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| Maturity: | April 28, 2022
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| Coupon: | 9%
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| Price: | Par
|
| Yield: | 9%
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| Bookrunners: | Zhongtai International, AMTD, Admiralty Harbour and ABC International
|
| Call option: | Make-whole call at any time
|
| Equity clawback: | Up to 35% at 109
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 6
|
| Distribution: | Regulation S
|
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