Published on 12/4/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s E-House sells $200 million 7.6% senior notes due 2023 at 99.387
By Cady Vishniac
Detroit, Dec. 4 – E-House (China) Enterprise Holdings Ltd. priced $200 million of 7.6% senior notes due June 10, 2023 (BB-/Lianhe: BB+) at 99.387, according to an announcement.
BOC International, Citigroup, Credit Suisse and Vision Capital are the joint global coordinators, joint lead managers and joint bookrunners.
Admiralty Harbour, BofA Securities, Central Wealth Securities Investment Ltd., China International Capital Corp., CMB International, CRIC Securities, DBS Bank Ltd., Haitong International, Nomura, Orient Securities (Hong Kong) and Valuable Capital Ltd. are the joint lead managers and joint bookrunners for the Regulation S offering.
Proceeds will refinance existing debt.
The company plans to seek a listing with the Stock Exchange of Hong Kong.
Shanghai-based E-House is a real estate services company.
| Issuer: | E-House (China) Enterprise Holdings Ltd.
|
| Amount: | $200 million
|
| Maturity: | June 10, 2023
|
| Description: | Senior notes
|
| Global coordinators: | BOC International, Citigroup, Credit Suisse and Vision Capital
|
| Joint bookrunners: | BOC International, Citigroup, Credit Suisse, Vision Capital, Admiralty Harbour, BofA Securities, Central Wealth Securities Investment Ltd., China International Capital Corp., CMB International, CRIC Securities, DBS Bank Ltd., Haitong International, Nomura, Orient Securities (Hong Kong) and Valuable Capital Ltd.
|
| Trustee: | HSBC Ltd.
|
| Coupon: | 7.6%
|
| Price: | 99.387
|
| Call: | Make-whole call at any time before maturity
|
| Equity clawback: | Up to 35% at 107.6
|
| Trade date: | Dec. 3
|
| Settlement date: | Dec. 10
|
| Rating: | S&P: BB-
|
| Lianhe: BB+
|
| Distribution: | Regulation S
|
© 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.
