New York, May 17 – Nan Hai Corp. Ltd. priced $120 million of 9¾% notes due 2019 at 98.85, according to a company announcement.
Guotai Junan International is the bookrunners for the Regulation S offering.
Proceeds will be used to repay loans.
Hong Kong-based Nan Hai operates movie theaters and distributes film in China and is also involved in real estate development and enterprise cloud services.
| Issuer: | Top Yield Ventures Ltd.
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| Guarantor: | Nan Hai Corp. Ltd.
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| Issue: | Guaranteed senior notes
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| Amount: | $120 million
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| Maturity: | May 23, 2019
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| Coupon: | 9¾%
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| Price: | 98.85
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| Call: | Make-whole call at any time
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| Equity claw: | For up to 35% at 109.75 at any time
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| Bookrunner: | Guotai Junan International
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| Pricing date: | May 17
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| Settlement date: | May 24
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| Distribution: | Regulation S
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