China’s Huijing Holdings provides additional details about new notes

Chicago, July 19 – China’s Huijing Holdings Co. Ltd. is prepping an offering of new notes that is being issued as a concurrent new money issue to a related exchange offer, according to an announcement.

The minimum coupon for the notes (Lianhe: B+), previously announced, will be 12½%.

The tenor will be 364 days.

The notes will be redeemable at any time at par plus an applicable premium, plus interest.

The company has appointed CMB International Capital Ltd. as sole global coordinator and sole placing agent.

China Merchants Securities (HK) Co. Ltd., Freeman Securities Ltd. and GF Securities (Hong Kong) Brokerage Ltd. are co-managers.

Proceeds from the new issue will be used for refinancing of certain debt and for general corporate purposes.

The new notes and the notes issued in the exchange offer will be consolidated and form a single series.

Settlement is expected for July 22.

Huijing is a Shanghai-based commercial and residential property developer.

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