By Marisa Wong
Los Angeles, Dec. 30 – Hydoo International Holding Ltd. priced $50 million of additional 14% senior notes due 2021, according to a company announcement.
The notes will be consolidated and form a single class with the $193.5 million of 14% two-year notes issued on Dec. 19.
Proceeds will be used mainly to repay debt, for financing acquisitions or the development of assets or property and for general corporate purposes.
Completion of the add-on is subject to market conditions, the company noted.
Hydoo is a Shenzhen, China-based investment holding company with subsidiaries that are principally engaged in the development and operation of large-scale business centers in China.
| Issuer: | Hydoo International Holding Ltd.
|
| Issue: | Senior notes add-on
|
| Amount: | $50 million
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| Maturity: | Dec. 19, 2021
|
| Coupon: | 14%
|
| Call feature: | Any time prior to Dec. 19, 2021 at 102.236 plus premium plus interest
|
| Equity clawback: | Up to 35% before Dec. 19, 2021 at 114
|
| Pricing date: | Dec. 27
|
| Rating: | Fitch: B-
|
| Distribution: | Regulation S
|
| Total issuance: | $243.5 million, including $193.5 million issued on Dec. 19
|
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