By Wendy Van Sickle
Columbus, Ohio, June 4 – Nan Hai Corp. Ltd. priced $350 million of 2.9% credit-enhanced notes due 2022 (Baa2) at par, according to a regulatory notice.
Amber Treasure Ventures Ltd. was issuer of the notes, and China Citic Bank International Ltd. was the bookrunner.
The Regulation S notes may be called on or after June 11, 2021, and holders can put the notes upon a change of control.
Proceeds will be used for repayment of mid- to long-term offshore debt due within one year.
Hong Kong-based Nan Hai operates is a film distributor and theater operator in China and is also involved in real estate development and enterprise cloud services.
| Issuer: | Amber Treasure Ventures Ltd.
|
| Guarantor: | Nan Hai Corp. Ltd.
|
| Issue: | Credit enhanced notes
|
| Amount: | $350 million
|
| Maturity: | June 11, 2022
|
| Bookrunner: | China Citic Bank International Ltd.
|
| Coupon: | 2.9%
|
| Price: | Par
|
| Yield: | 2.9%
|
| Call: | Callable starting on June 11, 2021
|
| Change of control put: | Yes
|
| Pricing date: | June 4
|
| Settlement date: | June 11
|
| Rating: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
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