By Rebecca Melvin
New York, Jan. 24 – China Evergrande Group’s Scenery Journey Ltd. subsidiary priced $4 billion of senior notes in two tranches, according to an announcement on Friday.
The company priced $2 billion of 11˝% senior notes due 2022.
The issuer also priced $2 billion of 12% senior notes due 2023.
The notes are guaranteed by Tianji Holding and other subsidiaries of the company organized outside of the People’s Republic of China.
Credit Suisse (Hong Kong) Ltd., UBS AG Hong Kong Branch, Merrill Lynch (Asia Pacific) Ltd. and TFI Securities and Futures Ltd. are the joint global lead managers and joint bookrunners of the Regulation S deal.
Proceeds will be used to refinance debt and for general corporate purposes.
China Evergrande is a Guangzhou, China-based real estate development company.
Issuer: | China Evergrande Group
|
Amount: | $4 billion
|
Description: | Senior notes
|
Lead managers: | Credit Suisse (Hong Kong) Ltd., UBS AG Hong Kong Branch, Merrill Lynch (Asia Pacific) Ltd. and TFI Securities and Futures Ltd.
|
Issue date: | Jan. 24
|
Distribution: | Regulation S
|
|
2022 notes
|
Amount: | $2 billion
|
Maturity: | 2022
|
Coupon: | 11˝%
|
|
2023 notes
|
Amount: | $2 billion
|
Maturity: | 2023
|
Coupon: | 12%
|
|
© 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.