Published on 3/2/2017 in the Prospect News Emerging Markets Daily.
New Issue: China South City prices $300 million 5¾% notes due 2020 at 98.986
By Marisa Wong
Morgantown, W.Va., March 2 – China South City Holdings Ltd. said it priced $300 million of 5¾% three-year senior notes at 98.986 on Thursday.
BofA Merrill Lynch, Credit Suisse, UBS, AMTD, Citigroup, Guotai Junan International, HSBC and Nomura are joint bookrunners and joint lead managers for the Regulation S transaction, according to a company announcement.
Proceeds will be used to refinance existing debt and for general corporate purposes.
Based in Hong Kong, China South City develops and operates large-scale, integrated logistics and trade centers in China.
| Issuer: | China South City Holdings Ltd.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | March 9, 2020
|
| Bookrunners: | BofA Merrill Lynch, Credit Suisse, UBS, AMTD, Citigroup, Guotai Junan International, HSBC and Nomura
|
| Coupon: | 5¾%
|
| Price: | 98.986
|
| Call option: | In whole at par plus an applicable premium or up to 35% of the notes under equity claw-back option at 105.75
|
| Pricing date: | March 2
|
| Settlement date: | March 9
|
| Ratings: | S&P: B-
|
| Fitch: B
|
| Distribution: | Regulation S
|
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