By Christine Van Dusen
Atlanta, May 18 – China’s Hsin Chong Construction Group Ltd. priced a $50 million tap of its 8¾% notes due May 18, 2018 at 101.25 on Monday, a market source said.
The notes were talked at a price in the 101 area.
The original $250 million 8¾% notes due 2018 priced on May 7 at 99.355.
UBS was the bookrunner for the Regulation S notes.
Proceeds will be used for working capital and general corporate purposes.
The construction and property company is based in Hong Kong.
| Issuer: | Hsin Chong Construction Group Ltd.
|
| Amount: | $50 million add-on
|
| Maturity: | May 18, 2018
|
| Description: | Notes
|
| Bookrunner: | UBS
|
| Coupon: | 8¾%
|
| Price: | 101.25
|
| Change-of-control put: | At 101
|
| Trade date: | May 18
|
| Distribution: | Regulation S
|
| Price talk: | 101 area
|
| Original issue: | $250 million notes priced at 99.355 on May 7, 2015
|
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