By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – China Singyes Solar Technologies Holding Ltd. priced $260 million of 7.95% senior notes due Feb. 15, 2019 at par on Wednesday, according to a company announcement.
BOCI Asia, HSBC and Guotai Junan Securities (Hong Kong) Ltd. are acting as joint global coordinators for the Regulation S deal and are joint lead managers and bookrunners along with SBI China Capital Financial Services, China Everbright Securities and Sun Hung Kai Investment Services Ltd.
The notes are subject to a change-of-control redemption at 101%.
At least 70% of the proceeds will be used for refinancing and repayment of existing offshore debt and for general corporate purposes.
China Singyes designs renewable energy systems and is based in Zhuhai, Guangdong, China.
| Issuer: | China Singyes Solar Technologies Holding Ltd.
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| Issue: | Senior notes
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| Amount: | $260 million
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| Maturity: | Feb. 15, 2019
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| Coupon: | 7.95%
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| Price: | Par
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| Yield: | 7.95%
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| Lead managers/bookrunners: | BOCI Asia, HSBC and Guotai Junan Securities (Hong Kong) Ltd., SBI China Capital Financial Services, China Everbright Securities and Sun Hung Kai Investment Services Ltd.
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| Global coordinators: | BOCI Asia, HSBC and Guotai Junan Securities (Hong Kong) Ltd.
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 15
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| Distribution: | Regulation S
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