Hydoo begins exchange offer for $157 million 12% senior notes due 2020

Chicago, Dec. 5 – Hydoo International Holding Ltd. started an exchange offer for its existing $157 million 12% senior notes due 2020, according to a notice.

The exchange offer is being conducted at the same time as a concurrent offering of new notes.

Investors who exchange their old notes will receive new notes due 2021 plus accrued interest. The minimum yield of the new notes will be 14% with a minimum yield to maturity of 15%.

The exchange expiration deadline is 11 a.m. ET on Dec. 11.

The new notes are expected to price on Dec. 12, and settlement is expected for Dec. 19.

AMTD is the financial adviser and structuring adviser.

D.F. King (+44 20 7920 9700, 852 3953 7231 or hydoo@dfkingltd.com) is the information and exchange agent.

Hydoo is an investment holding company principally engaged in the development and operation of large-scale business centers in China.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.