Chicago, Sept. 17 – Zensun Enterprises Ltd. sold $160 million of 12˝% guaranteed senior notes (B3) due April 23, 2024, as announced in a notice.
The notes priced at 99.965.
The notes can be redeemed at any time at par plus an applicable premium, and unpaid interest.
The notes will be guaranteed by parent Zensun Group Ltd. and subsidiary guarantors. The subsidiary guarantors named in the notice are Zensun International Holdings Co. Ltd., HQ Neptune Investments Ltd., Honor Challenge Investment Ltd., Vigor Capital Holdings Ltd., Ever Diamond Global Co. Ltd., Champ Win Enterprise Ltd. and Total Star Development Ltd.
Guotai Junan International, Haitong International, CCB International, Sheng Yuan Securities, Bocom International, AMC Wanhai Securities, OCI Asset Management, Central China International and Vision Capital International are joint global coordinators, joint bookrunners and joint lead managers for the Regulation S notes.
Proceeds will be used to repay offshore debt due within one year.
The notes will be listed on the Stock Exchange of Hong Kong Ltd.
Zensun is the largest residential property developer in Zhengzhou, China.
| Issuer: | Zensun Enterprises Ltd.
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| Guarantor: | Zensun Group Ltd.
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| Issue: | Senior notes
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| Amount: | $160 million
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| Maturity: | April 23, 2024
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| Bookrunners: | Guotai Junan International, Haitong International, CCB International, Sheng Yuan Securities, Bocom International, AMC Wanhai Securities, OCI Asset Management, Central China International and Vision Capital International
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
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| Coupon: | 12˝%
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| Price: | 99.965
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| Call features: | At any time at par plus applicable premium and unpaid interest
|
| Equity clawback: | Up to 35% at 112.5
|
| Trade date: | Sept. 16
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| Rating: | Moody’s: B3
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| Distribution: | Regulation S
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