By Wendy Van Sickle
Columbus, Ohio, Oct. 17 – LVGEM (China) Real Estate Investment Co. Ltd. said it priced a $175 million add-on to its 8½% three-year guaranteed senior notes at 100.6% on Tuesday, bringing the total issue size to $400 million, according to a notice.
The bonds will be issued through wholly owned subsidiary Gemstones International, Ltd.
Nomura, Guotai Junan International, BOSC International, UBS, SPDB International, BOCOM International, VTB Capital were the bookrunners for the Regulation S add-on deal.
The company priced the original $225 million of the notes on Aug. 8.
Proceeds will be used for general working capital purposes.
LVGEM is a property developer based in Hong Kong.
| Issuer: | Gemstones International, Ltd.
|
| Issue: | Guaranteed senior notes
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| Amount: | $175 million add-on
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| Maturity: | Aug. 15, 2020
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| Bookrunners: | Nomura, Guotai Junan International, BOSC International, UBS, SPDB International, BOCOM International, VTB Capital
|
| Coupon: | 8½%
|
| Price: | 100.6%
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 25
|
| Original issue: | $225 million priced on Aug. 8
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