By Taylor Fox
New York, Jan. 21 – Guangzhou Fineland Real Estate Development Co., Ltd. issued $340 million of 13.6% senior notes due July 27, 2023 (B3//China Chengxin: Bg+), according to a notice.
The company will issue $103.75 million of the new notes in the concurrent new money issuance and $236.25 million of the new notes pursuant to an exchange offer, for an amount of $340 million of the new notes.
Interest is payable semiannually beginning July 27.
The real estate developer is based in Guangzhou, China.
| Issuer: | Guangzhou Fineland Real Estate Development Co., Ltd.
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| Issue: | Senior notes
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| Amount: | $340 million
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| Maturity: | July 27, 2023
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| Coupon: | 13.6%
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| Call: | Any time in whole at par plus an applicable premium and accrued interest
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| Equity clawback: | For up to 35% of the notes at 113.6% of par
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| Settlement date: | Jan. 21
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| Ratings: | Moody’s: B3
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| China Chengxin: Bg+
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