By Marisa Wong
Los Angeles, March 9 – Zensun Enterprises Ltd. announced it priced $200 million of 12˝% senior notes due Sept. 13, 2022 at 98.961.
The notes (B2) will be guaranteed by parent Zensun Group Ltd. and subsidiary guarantors, according to a notice.
Guotai Junan International, Haitong International, China Citic Bank International, Shenwan Hongyuan HK, Zhongrong PT Securities Ltd., AMTD, Kaisa Financial and Admiralty Harbour are joint bookrunners and joint lead managers for the Regulation S offering.
Proceeds will be used to refinance debt and for project developments and general corporate purposes.
The issuer is a Hong Kong-based investment holding company engaged in property development.
| Issuer: | Zensun Enterprises Ltd.
|
| Guarantor: | Zensun Group Ltd.
|
| Issue: | Senior notes
|
| Amount: | $200 million
|
| Maturity: | Sept. 13, 2022
|
| Bookrunners: | Guotai Junan International, Haitong International, China Citic Bank International, Shenwan Hongyuan HK, Zhongrong PT Securities Ltd., AMTD, Kaisa Financial and Admiralty Harbour
|
| Coupon: | 12˝%
|
| Price: | 98.961
|
| Call option: | In whole at par at any time
|
| Equity clawback: | Up to 35% at 112.5
|
| Pricing date: | March 6
|
| Rating: | Moody’s: B2
|
| Distribution: | Regulation S
|
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