New Issue: China’s Guangdong Hong Kong Greater Bay sells additional 14% notes due 2021

By Taylor Fox

New York, Feb. 2 – Guangdong-Hong Kong Greater Bay Area Holdings Ltd. issued an additional $13.5 million 14% senior notes due Dec. 19, 2021 at 101.9 plus accrued interest, according to a Stock Exchange of Hong Kong Ltd. notice.

AMTD, BNP Paribas, Kaisa Financial and Fulbright Securities are joint bookrunners and joint lead managers.

Proceeds will be used to repay debts, finance acquisitions or develop assets or property in the ordinary course of business, and for general corporate purposes.

The state-owned investment holding company is based in Guangdong, China.

Issuer:	Guangdong-Hong Kong Greater Bay Area Holdings Ltd.
Issue:	Senior notes
Amount:	$13.5 million add-on
Maturity:	Dec. 19, 2021
Bookrunners:	AMTD, BNP Paribas, Kaisa Financial and Fulbright Securities
Coupon:	14%
Price:	101.9 plus accrued interest
Call:	In whole at any time prior to maturity at 102.236 plus a premium and accrued interest
Change-of-control:	At 101
Equity clawback:	For up to 35% of the notes prior to Dec. 19, 2021 at 114 plus accrued interest
Settlement date:	Jan. 29
Listing date:	Feb. 2
Existing rating:	Fitch: B-
Distribution:	Regulation S
Total amount:	$293.5 million, including $193.5 million issued on Dec. 19, 2019 and additional amounts as subsequent add-ons

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