By Wendy Van Sickle
Columbus, Ohio, Jan. 16 – Sunny Optical Technology (Group) Co. Ltd. priced $600 million of 3¾% bonds (Baa2) due 2023 at 99.603 on Tuesday, according to a notice.
Citigroup Global Markets Ltd., UBS AG Hong Kong Branch and BNP Paribas are the bookrunners, with Citigroup and UBS as the global coordinators.
Proceeds of the Regulation S bonds will be used for funding capital expenditures, fulfilling working capital requirements, refinancing existing debt and other general corporate purposes.
A listing on the Hong Kong Stock Exchange is expected.
Sunny Optical is a China-based optical instrument and lens making company.
| Issuer: | Sunny Optical Technology (Group) Co. Ltd.
|
| Issue: | Bonds
|
| Amount: | $600 million
|
| Maturity: | 2023
|
| Bookrunners: | Citigroup Global Markets Ltd., UBS AG Hong Kong Branch (global coordinators) and BNP Paribas
|
| Coupon: | 3¾%
|
| Price: | 99.603
|
| Call option: | Make-whole call at any time
|
| Put option: | At 101 following change of control
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 23
|
| Ratings: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
