Chicago, Aug. 13 – Shinsun Holdings (Group) Co. Ltd. sold $200 million of 12% two-year senior notes (B3/B-) at 99.139, according to an announcement with issue details.
The notes can be redeemed before the maturity date with a premium.
Proceeds from the Regulation S issue will be used to refinance existing offshore debt.
HSBC Ltd., Valuable Capital Ltd., CCB International Capital Ltd., CMB International Capital Ltd., Shenwan Hongyuan Securities (H.K.) Ltd., SPDB International Capital Ltd. and Yonxi Securities Ltd.
The real estate development company is based in Hong Kong.
| Issuer: | Shinsun Holdings (Group) Co. Ltd.
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| Issue: | Senior notes
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| Amount: | $200 million
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| Maturity: | Aug. 18, 2023
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| Bookrunners: | HSBC Ltd., Valuable Capital Ltd., CCB International Capital Ltd., CMB International Capital Ltd., Shenwan Hongyuan Securities (H.K.) Ltd., SPDB International Capital Ltd. and Yonxi Securities Ltd.
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| Trustee: | China Construction Bank (Asia) Corp. Ltd.
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| Coupon: | 12%
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| Price: | 99.139
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| Call features: | Any time with a premium
|
| Equity clawback: | Up to 35% at 112
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| Trade date: | Aug. 12
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| Settlement date: | Aug. 18
|
| Ratings: | Moody’s: B3
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| S&P: B-
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| Distribution: | Regulation S
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