New Issue: China’s Xiaomi prices $600 million of 3 3/8% 10-year senior notes at 98.745

By Wendy Van Sickle

Columbus, Ohio, April 22 – Xiaomi Corp. priced $600 million of 3 3/8% 10-year senior notes (Baa2/BBB-/BBB) at 98.745 on Wednesday, according to a company announcement.

The notes will be issued by wholly owned subsidiary Xiaomi Best Time International Ltd. and guaranteed by the parent company.

Goldman Sachs (Asia) LLC, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc, Bankof China, China International Capital Corp., ICBC International, CCB International, AMTD, Barclays and HSBC are the joint lead managers and joint bookrunners for the Regulation S and Rule 144A offering.

Proceeds will be used for general corporate purposed and to repay existing borrowings.

The electronics company is based in Beijing.

Issuer:	Xiaomi Best Time International Ltd.
Guarantor:	Xiaomi Corp.
Issue:	Senior notes
Amount:	$600 million
Price”	98.745
Maturity:	April 29, 2030
Coupon:	3 3/8%
Bookruners:	Goldman Sachs (Asia) LLC, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc, Bankof China, China International Capital Corp., ICBC International, CCB International, AMTD, Barclays and HSBC
Call:	Make-whole call until Jan. 29, 2030, then callable at par
Pricing date:	April 22
Settlement date:	April 29
Ratings:	Moody’s: Baa2
	S&P: BBB-
	Fitch: BBB
Distribution:	Regulation S and Rule 144A

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.