Chicago, Sept. 14 – Logan Group Co. Ltd. sold $100 million 4¼% senior notes due Sept. 17, 2024 (//BB/Lianhe: BBB-) at par, according to an announcement.
The company may redeem the notes at par plus a premium until Sept. 17, 2023 and then at 102 plus interest after that date.
Guotai Junan Securities (Hong Kong) Ltd., Bank of East Asia Ltd., CMBC Securities Co. Ltd., Haitong International Securities Co. Ltd., BNP Paribas and China Minsheng Banking Corp., Ltd., Hong Kong Branch are joint global coordinators, joint bookrunners and joint lead managers for the issue.
Proceeds will be used to refinance debt.
Logan Group is a real estate development company that operates in China with headquarters in Shenzhen. The company was formerly known as Logan Property Holdings Co. Ltd.
| Issuer: | Logan Group Co. Ltd.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Maturity: | Sept. 17, 2024
|
| Bookrunners: | Guotai Junan Securities (Hong Kong) Ltd., Bank of East Asia Ltd., CMBC Securities Co. Ltd., Haitong International Securities Co. Ltd., BNP Paribas and China Minsheng Banking Corp., Ltd., Hong Kong Branch
|
| Trustee: | Citicorp International Ltd.
|
| Coupon: | 4¼%
|
| Price: | Par
|
| Yield: | 4¼%
|
| Call option: | At par plus a premium until Sept. 17, 2023 and then at 102
|
| Equity clawback: | Up to 35% at 104.25
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 17
|
| Ratings: | Fitch: BB
|
| Lianhe: BBB-
|
| Distribution: | Regulation S
|
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