By Cady Vishniac
Detroit, Dec. 23 – Wuhan Dangdai Science & Technology Industries (Group) Ltd. subsidiary Dangdai International Investments Ltd. sold and plans to list $260 million of its 10½% notes due Jan. 16, 2023, sold in two tranches in 2020, according to a market release.
The notes are guaranteed by the parent.
The first issue of $200.5 million of the notes was issued July 10.
CLSA and TF International were joint global coordinators, joint bookrunners and joint lead managers on the issue. CMBC Capital, SPDB International, ICBC International and China Securities International were the joint bookrunners and joint lead managers.
The second issue of $60,000 of notes was issued Oct. 30.
CLSA, TF International and SPDB International acted as joint global coordinators, joint bookrunners and joint lead managers on the issue. CNCB Capital and China Vered Financial were the joint bookrunners and joint lead managers.
The new notes were consolidated and form a single series with the $83.39 million of notes from January 2020.
Application has been made for a listing of the notes in both tranches on the Stock Exchange of Hong Kong Ltd. Listing is expected on Dec. 24.
Based in Wuhan, China, Dangdai is a conglomerate with a substantial medical and pharmaceutical portfolio.
| Issuer: | Dangdai International Investments Ltd.
|
| Guarantor: | Wuhan Dangdai Science & Technology Industries (Group) Ltd.
|
| Issue: | Notes
|
| Maturity: | Jan. 16, 2023
|
| Coupon: | 10½%
|
| Original issue: | $83,393,000 of notes sold in January 2019
|
|
|
| Amount: | $200.5 million
|
| Bookrunners: | CLSA, TF International, CMBC Capital, SPDB International, ICBC International and China Securities International
|
| Issue date: | July 10
|
|
|
| Amount: | $60 million
|
| Bookrunners: | CLSA, TF International, SPDB International, CNCB Capital and China Vered Financial Branch
|
| Issue date: | Oct. 30
|
|
|
© 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.
