China’s Fosun units offer to purchase 5 3/8%, 5½ notes due 2020, 2023

By Wendy Van Sickle

Columbus, Ohio, June 24 – Fortune Star (BVI) Ltd. and Wealth Driven Ltd. are each offering to purchase a maximum amount of a series of notes guaranteed by Fosun International Ltd., according to a notice.

Fortune Star is offering to purchase its $550 million of its 5 3/8% senior notes due 2020 for $1,011.50 per $1,000 principal amount.

Wealth Driven is offering to purchase its $590 million of its 5½% senior notes due 2023 at par.

Each issuer will also pay accrued interest to the settlement date, which is expected to be July 11.

Each offer expires at 11 a.m. ET on July 4.

The maximum acceptance amount for each series is expected to be announced on June 25.

If tender instructions are delivered for amounts in excess of the maximum purchase amount, tenders will be accepted on a pro rata basis.

Fortune Star is planning to price a new series of notes on June 24, and the offers are conditioned on consummation of that issuance.

Credit Suisse, BOCI, HSBC and Standard Chartered Bank are the dealer managers.

D.F. King (+44 20 7920 9700, 852 3953 7230 or fosun@dfkingltd.com) is the information and tender agent.

Fosun is a Shanghai-based conglomerate.

© 2015 Prospect News.
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