By Angela McDaniels
Tacoma, Wash., Sept. 27 – Zhongliang Holdings Group Co. Ltd. priced a $100 million add-on to its $300 million 11˝% senior notes due 2021 (B2//B+), according to a notice.
The add-on priced at 99.561.
Credit Suisse (Hong Kong) Ltd. is the global coordinator, bookrunner and lead manager for the Regulation S notes.
Proceeds will be used to refinance onshore debt.
The notes are callable at par plus an applicable premium and interest at any time prior to maturity.
As previously reported, the original $300 million of notes priced at 99.134 on Sept. 19.
Zhongliang Holdings is a Chinese residential property management company.
| Issuer: | Zhongliang Holdings Group Co. Ltd.
|
| Issue: | Senior notes
|
| Amount: | $100 million add-on
|
| Maturity: | Sept. 26, 2021
|
| Bookrunner: | Credit Suisse (Hong Kong) Ltd.
|
| Coupon: | 11˝%
|
| Price: | 99.561 plus accrued interest from Sept. 26 to but excluding Oct. 10
|
| Call: | At par plus premium plus interest at any time
|
| Equity clawback: | For up to 35% at 111.5 at any time prior to maturity
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 10
|
| Ratings: | Moody’s: B2
|
| Fitch: B+
|
| Distribution: | Regulation S
|
| Total issue size: | $400 million, including $300 million priced at 99.134 on Sept. 19, 2019
|
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