Chicago, Dec. 23 – Wuhan Dangdai Science & Technology Industries (Group) Ltd. subsidiary Dangdai International Investments Ltd. sold a $50 million add-on to the $150 million of 9¼% guaranteed notes that were issued on Nov. 16, according to a listing notice.
CLSA is the global coordinator, bookrunner and lead manager for the additional notes and also handled the original sale.
The new $50 million of notes are being consolidated and forming a single series with the original notes.
The add-on priced at par.
Based in Wuhan, China, Dangdai is a conglomerate with a substantial medical and pharmaceutical portfolio.
| Issuer: | Dangdai International Investments Ltd.
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| Guarantor: | Wuhan Dangdai Science & Technology Industries (Group) Co. Ltd.
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| Issue: | Guaranteed notes
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| Amount: | $50 million
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| Maturity: | Nov. 15, 2022
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| Bookrunner: | CLSA
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| Trustee: | Bank of New York Mellon, London Branch
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| Counsel to issuer: | Linklaters, JunHe LLP, Ogier
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| Counsel to bookrunners: | White & Case, Global Law Office
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| Coupon: | 9¼%
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| Price: | Par
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| Yield: | 9¼%
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| Call features: | Make-whole call at any time at Treasuries plus 100 bps
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| Equity clawback: | Up to 35% at 109.25
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| Change of control: | At 101
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| Settlement date: | Nov. 23
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| Distribution: | Regulation S
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| ISIN: | XS2408455553
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