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China’s Wanda Group offers to purchase 7¼% guaranteed bonds due 2022
By Rebecca Melvin
Concord, N.H., April 1 – Wanda Properties Overseas Ltd., a subsidiary of Wanda Commercial Properties (Hong Kong) Co. Ltd., has commenced an offer to purchase for cash any and all of its outstanding $400 million 7¼% guaranteed bonds due April 28, 2022 (ISIN: XS2334068645) according to an announcement Friday.
The bonds ae guaranteed by Wanda Commercia Properties (Hong Kong) with the benefit of a keepwell deed and deed of equity interest purchase undertaking by Dalian Wanda Commercial Management Group Co. Ltd.
The company is offering to pay $1,000 per $1,000 principal amount of bonds plus accrued interest.
The offer expiration is 11 a.m. ET on April 8. Settlement is expected to occur on April 13.
Credit Suisse (Hong Kong) Ltd. (+852 2101 6000; list.liabilitymanagementasia@credit.suisse.com), HSBC (+852 3941 0223; +44 20 7992 6237; liability.management@hsbcib.com) and Orient Securities (Hong Kong) Ltd. (+852 3519 1114; DCM@dfzq.com.hk) are acting as the joint dealer managers of the offering.
Morrow Sodali Ltd. (+852 2319 4130; +44 20 4513 6933; wanda@investor.morrowsodali.com) is acting as the information and tender agent.
Dalian Wanda Group is a real estate company based in Beijing.
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