By Rebecca Melvin
New York, Feb. 14 – China ZhengTong Auto Services Holdings Ltd. priced an additional $13 million of its 12% senior notes due Jan. 21, 2022, according to a notice on Friday.
The Regulation S notes will be consolidated to form one series with the company’s $160 million of 12% notes due 2022 issued on Jan. 21.
JPMorgan, Haitong International, CCB International and China Citic Bank International were the joint bookrunners and joint lead managers for the original notes.
The auto dealership group is based in Beijing.
| Issuer: | China ZhengTong Auto Services Holdings Ltd.
|
| Issue: | Notes add-on
|
| Amount: | $13 million
|
| Maturity: | Jan. 21, 2022
|
| Coupon: | 12%
|
| Call option: | At any time at par plus make-whole amount
|
| Equity clawback: | Up to 35% at 112
|
| Pricing date: | Feb. 14
|
| Expected rating: | Moody’s: B2
|
| Distribution: | Regulation S
|
| Total deal size: | $173 million, including $160 million issued on Jan. 21, 2020
|
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