By Rebecca Melvin
New York, April 14 – Beijing Hongkun Weiye Real Estate Development Co. Ltd. subsidiary Hongkong Ideal Investment Ltd. is listing a $40 million add-on to its 14¾% senior notes due 2022, according to a notice with the Stock Exchange of Hong Kong Ltd.
The listing is expected to become effective on April 15, and the notes will form a single series with $110 million of the notes issued as per a memorandum Nov. 12, 2019.
Haitong International, Admiralty Harbour, China International Capital Corp. and China Merchants Securities (HK) were joint global coordinators as well as joint bookrunners and joint lead managers alongside Glory Sun Financial, AMTD and HK Monkey Securities Ltd. of the original issue.
The real estate developer is based in Beijing.
Issuer: | Hongkong Ideal Investment Ltd.
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Guarantor: | Beijing Hongkun Weiye Real Estate Development Co. Ltd.
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Issue: | Senior notes
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Amount: | $40 million
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Maturity: | 2022
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Bookrunners: | Haitong International, Admiralty Harbour, China International Capital Corp., China Merchants Securities (HK), Glory Sun Financial, AMTD and HK Monkey Securities Ltd.
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Coupon: | 14¾%
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Listing date: | April 15
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Distribution: | Regulation S
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Total deal size: | $150 million, including $110 million issued on Nov. 12
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