By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Shimao Property Holdings Ltd. priced an additional $400 million of 4¾% five-year senior notes at 99.491204, according to a company notice
The notes will be consolidated and form a single series with the $600 million of 4¾% five-year notes issued on July 3.
As previously reported, the company priced an initial $450 million of the notes on June 22 and an additional $150 million of the notes on June 28. The original notes were priced at par and the $150 million additional notes were priced at 100.5.
CICC HK Securities, HSBC and Morgan Stanley, CMB International Capital, Deutsche Bank, Standard Chartered Bank and SPDB International Capital will be joint bookrunners and joint lead managers for the Regulation S add-on. CICC HK Securities, HSBC and Morgan Stanley will also act as joint global coordinators.
Proceeds will be used to refinance existing debt and for business development and other general corporate purposes.
The real estate development company is based in Hong Kong.
| Issuer: | Shimao Property Holdings Ltd.
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| Issue: | Senior notes
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| Amount: | $400 million (add-on to $450 million priced on June 22, and $150 million on June 28)
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| Maturity: | July 3, 2022
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| Coupon: | 4¾%
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| Price: | 99.491204
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| Bookrunners: | CICC HK Securities, HSBC and Morgan Stanley (joint global coordinators) with Goldman Sachs and UBS
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| Call features: | Non-callable for three years, then callable at 102.375 beginning July 3, 2020 and at 101.1875 beginning July 3, 2021
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| Equity clawback: | For up to 35% at 104.75 at any time prior to July 3, 2020
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| Trade date: | Dec. 4
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| Settlement date: | Dec. 11
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| Distribution: | Regulation S
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