By Rebecca Melvin
New York, June 24 – Landsea Green Group Co., Ltd. priced $200 million of three-year 10˝% green senior notes (expected ratings: B3/B-/B) at 98.134 on Monday, according to a regulatory announcement.
The notes were sold at 98.134.
Joint global coordinators, joint bookrunners and joint lead managers of the Regulation S notes are Guotai Junana International and Haitong International.
There is an optional redemption at par, and the company will make an offer to repurchase all outstanding notes at a purchase price of 101 upon a change of control.
Proceeds will be used for refinancing green bonds.
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.
|
| Description: | Green senior notes
|
| Amount: | $200 million
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| Maturity: | June 20, 2022
|
| Bookrunners: | Guotai Junana International and Haitong Internation
|
| Coupon: | 10˝%
|
| Price: | 98.134
|
| Calls: | Optional redemption at par
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| Change of Control: | At 101
|
| Trade date: | June 17
|
| Expected ratings: Moody’a: B2
|
| S&P’s: B-
|
| Fitch: B
|
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