By Marisa Wong
Morgantown, W.Va., April 23 – Landsea Green Group Co., Ltd. priced $150 million of 9 5/8% green senior notes due 2020 at 99.556 on Friday, according to a company announcement.
Guotai Junan International, Haitong International, HSBC, China International Capital Corp. and Morgan Fuel Go Securities Ltd. are the bookrunners for the Regulation S offering.
Proceeds will be used to refinance existing debt or for general corporate purposes relating to projects that target climate mitigation and investments in the development of sustainable properties.
Landsea is a Nanjing, China-based investment holding company with four segments: property investment, property development and trading, securities investment and securities trading and provision of financial services.
| Issuer: | Landsea Green Group Co., Ltd.
|
| Issue: | Green senior notes
|
| Amount: | $150 million
|
| Maturity: | April 25, 2020
|
| Bookrunners: | Guotai Junan International, Haitong International, HSBC, China International Capital Corp. and Morgan Fuel Go Securities Ltd.
|
| Coupon: | 9 5/8%
|
| Price: | 99.556
|
| Call option: | In whole at any time at make-whole amount
|
| Equity clawback: | Up to 35% at 109.625
|
| Change-of-control put: | At 101
|
| Pricing date: | April 20
|
| Settlement date: | April 25
|
| Distribution: | Regulation S
|
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