New York, July 19 – Agile Group Holdings Ltd. priced a $400 million add on to its three-year senior notes (Ba3/BB) at par to yield 8˝% on Thursday, according to an announcement.
BNP Paribas, BOC International, Bocom International, CEB International, China International Capital Corp., CMB International, Guotai Junan International, HSBC, Standard Chartered Bank and UBS are the joint global coordinators and joint bookrunners.
There is a make-whole call for the first two years, and the notes are callable on or after July 18, 2020 at 104.5 plus accrued interest to the redemption date.
Proceeds will be used to refinance offshore debt.
Agile Group priced the original $200 million issue at par on July 11.
Agile is a Hong Kong-based property developer.
| Issuer: | Agile Group Holdings Ltd.
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| Description: | Senior notes
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| Amount: | $400 million add on
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| Maturity: | Aug. 14, 2021
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| Bookrunners: | BNP Paribas, BOC International, Bocom International, CEB International, China International Capital Corp., CMB International, Guotai Junan International, HSBC, Standard Chartered Bank and UBS
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| Coupon: | 8˝%
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| Price: | Par
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| Yield: | 8˝%
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| Calls: | Make-whole call for first two years; callable at 104.5 plus accrued interest on or after July 18, 2020
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| Trade date: | July 19
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| Settlement date: | July 26
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| Ratings: | Moody’s: Ba3
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| S&P: BB
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| Distribution: | Regulation S
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