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Fosun’s Fortune Star, Wealth Driven offer cash for 2022, 2023 notes
Chicago, May 11 – Fortune Star (BVI) Ltd. and Wealth Driven Ltd. started capped offers to purchase for cash two series of notes, according to a joint announcement.
The offers cover Fortune Star’s $1,025,361,000 outstanding of 5¼% senior notes due 2022 (ISIN: XS1581103428) at priority level one and Wealth Driven’s $446,009,000 outstanding 5½% senior notes due 2023 (ISIN: XS1471856424) at priority level two.
Payment for Fortune Star’s 2022 notes will be $1,014 per $1,000 note, and the purchase price for Wealth Driven’s notes is $1,008 per $1,000 note. Interest will also be paid to the settlement date.
Both series of notes are guaranteed by Fosun International Ltd.
The maximum acceptance amount will be announced on May 12.
The offers are subject to proration, if necessary.
Fortune Star is conducting a concurrent new money issuance on May 11. The aggregate acceptance amount will be up to the new issue amount. Funding for the offers will come from the new money issuance and/or working capital.
Both offers expire at 11 a.m. ET on May 21.
Settlement is expected for May 25.
Credit Suisse (Hong Kong) Ltd. (+852 2101 6000) and Deutsche Bank (+852 2503 8888) are working as dealer managers.
D.F. King Ltd. is the information and tender agent (+44 20 7920 9700, +852 3953 7208, fosun@dfkingltd.com, https://sites.dfkingltd.com/Fosun).
Fosun is a Shanghai-based conglomerate.
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