By William Gullotti
Buffalo, N.Y., June 28 – New Momentum International ltd., a wholly owned subsidiary of GoHo Asset Management Co., Ltd., provided the details for the $87.6 million of 8½% guaranteed bonds due 2024 issued in connection with an exchange offer, according to a circular on Wednesday.
As previously reported June 22, the new bonds resulted from a successful exchange offer for outstanding 8½% guaranteed bonds due 2023 (ISIN: XS2358337868) that settled June 27.
Issued by the subsidiary and guaranteed by the parent, the Regulation S bonds are priced at par as a result of the exchange.
The joint dealer managers for the issuance are CCB International Capital Ltd. and Haitong International Securities Co. Ltd.
The issuer did not receive any cash proceeds from the issuance as it was tied to an exchange offer.
As previously reported, listing for the new bonds is expected on the Hong Kong Exchange effective June 28.
GoHo is an asset manager focused on local and distressed assets in China.
| Issuer: | New Momentum International Ltd.
|
| Guarantor: | Goho Asset Management Co., Ltd.
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| Amount: | $87.6 million
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| Issue: | Guaranteed bonds
|
| Maturity: | June 25, 2024
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| Dealer managers: | CCB International Capital Ltd. and Haitong International Securities Co. Ltd.
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
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| Counsel to issuer: | Conyers Dill & Pearman (British Virgin Islands)
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| Counsel to guarantor: | King & Wood Mallesons (England, China)
|
| Counsel to dealer managers: | Freshfields Bruckhaus Deringer (England), Haiwen & Partners (China)
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| Coupon: | 8½%
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| Price: | Par
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| Yield: | 8½%
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| Call option: | For taxation reasons at par plus interest
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| Change-of-control put: | At 101 plus interest
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| No-registration event put: At par plus interest
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| Settlement date: | June 27
|
| Listing date: | June 28
|
| ISIN: | XS2635637940
|
| Distribution: | Regulation S
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