By Rebecca Melvin
New York, April 29 – Nan Hai Corp. Ltd. priced $500 million of 3½% credit-enhanced notes due 2022 (/BBB+/) at par, according to a regulatory notice.
Amber Treasure Ventures Ltd. was issuer of the notes, and China Citic Bank International Ltd. was the bookrunner.
The Regulation S notes may be called on or after May 8, 2021, and holders can put the notes upon a change of control.
Proceeds will be used for repayment of mid- to long-term offshore debt due within one year.
Hong Kong-based Nan Hai operates is a film distributor and theater operator in China and is also involved in real estate development and enterprise cloud services.
| Issuer: | Amber Treasure Ventures Ltd.
|
| Guarantor: | Nan Hai Corp. Ltd.
|
| Issue: | Credit enhanced notes
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| Amount: | $500 million
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| Maturity: | May 8, 2022
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| Coupon: | 3½%
|
| Price: | Par
|
| Call: | Callable starting on May 8, 2021
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| Change of control put: | Yes
|
| Bookrunner: | China Citic Bank International Ltd.
|
| Pricing date: | April 29
|
| Settlement date: | May 8
|
| Expected ratings: | S&P’s: BBB+
|
| Distribution: | Regulation S
|
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