Published on 12/4/2020 in the Prospect News Emerging Markets Daily.
New Issue: Beijing Hongkun Weiye unit sells $55 million more 14¾% notes due 2022
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Beijing Hongkun Weiye Real Estate Development Co. Ltd. subsidiary Hongkong Ideal Investment Ltd. is listing a $55 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 Dec. 4, and the notes will form a single series with $110 million of the notes issued on Oct. 8, 2019 and the $40 million of the notes issued on Nov. 19, 2019.
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: | $55 million
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| Maturity: | 2022
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| Coupon: | 14¾%
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| Listing date: | Dec. 4
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| Distribution: | Regulation S
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| Total deal size: | $205 million, including $110 million issued on Oct. 8, 2019 and $40 million issued on Nov. 19, 2019
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