New Issue: China’s Hong Seng prices $275 million 9 7/8% senior notes due 2022

By Wendy Van Sickle

Columbus, Ohio, Feb. 27 – Hong Seng Ltd. priced $275 million of 9 7/8% senior notes due 2022 (//B+), according to a notice with the Stock Exchange of Hong Kong Ltd.

The notes are guaranteed by Hong Yang Group Co. Ltd.

China International Capital Corp., Deutsche Bank, Guotai Junan International, UBS, AMTD, Barclays, CLSA, CMB International, Credit Suisse, Haitong International, ICBC International and Shenwan Hongyuan HK were the bookrunners for the Regulation S offering.

The real estate development company is based in Nanjing, China.

Issuer:	Hong Seng Ltd.
Guarantor:	Hong Yang Group Co. Ltd.
Issue:	Senior notes
Amount:	$275 million
Maturity:	2022
Bookrunners:	China International Capital Corp., Deutsche Bank, Guotai Junan International, UBS, AMTD, Barclays, CLSA, CMB International, Credit Suisse, Haitong International, ICBC International and Shenwan Hongyuan HK
Coupon:	9 7/8%
Listing date:	Feb. 28
Distribution:	Regulation S
Rating:	Fitch: B+

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