By Wendy Van Sickle
Columbus, Ohio, June 22 – China South City Holdings Ltd. sold a $125 million add-on to its 10 7/8% senior notes due June 26, 2022, according to an announcement on Monday.
The notes will be consolidated and form a single series with the $225 million of notes the company issued on Feb. 26.
There is a make-whole call for the notes any time prior to June 26, 2022.
Guotai Junan International is the global coordinator, bookrunner and lead manager for the Regulation S notes.
Proceeds will be used to refinance existing debt and for general corporate purposes.
China South City is based in Hong Kong and develops and operates large-scale, integrated logistics and trade centers in China.
| Issuer: | China South City Holdings Ltd.
|
| Issue: | Senior notes
|
| Amount: | $125 million add-on
|
| Maturity: | June 26, 2022
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| Bookrunner: | Guotai Junan International
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| Coupon: | 10 7/8%
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| Call: | Make-whole any time before June 26, 2022 at par plus premium plus interest
|
| Equity clawback: | Up to 35% before June 26, 2022 at 110.875
|
| Pricing date: | June 22
|
| Settlement date: | June 26
|
| Distribution: | Regulation S
|
| Original issue: | $225 million issued on Feb. 26
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