Published on 10/23/2020 in the Prospect News Emerging Markets Daily.
New Issue: Times China prices $250 million add-on to 6¾% notes due 2025
By Rebecca Melvin
New York, Oct. 23 – Times China Holdings Ltd. priced a $250 million add-on to its 6¾% senior notes due 2025, according to a company news release.
The new notes will form a single series with the existing $300 million notes series.
The company entered into a purchase agreement with UBS, Credit Suisse, Deutsche Bank, CLSA, China Citic Bank International, Citigroup, CMBC Capital, Guotai Junan International, Haitong International, HSBC and the Bank of East Asia Ltd. regarding the new notes.
The company intends to use proceeds to refinance certain debt but may adjust its plans in response to changing market conditions.
Times China is a property development holding company based in Guangzhou, China.
| Issuer: | Times China Holdings Ltd.
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| Issue: | Senior notes add-on
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| Amount: | $250 million
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| Maturity: | 2025
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| Bookrunners: | UBS, Credit Suisse, Deutsche Bank, CLSA, China Citic Bank International, Citigroup, CMBC Capital, Guotai Junan International, Haitong International, HSBC and the Bank of East Asia Ltd.
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| Coupon: | 6¾%
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| Pricing date: | Oct. 23
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| Total deal size: | S$550 million, including S$300 million priced previously
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