By Marisa Wong
Los Angeles, Aug. 13 – CIFI Holdings (Group) Co. Ltd. priced RMB 1.2 billion of 5.85% senior notes due 2023 (BB-/BB) at par on Wednesday, according to a company announcement.
Hongkong and Shanghai Banking Corp. Ltd., Standard Chartered Bank, China Industrial Securities International Brokerage Ltd. and CMBC Securities Co. Ltd. are joint bookrunners and joint lead managers for the Regulation S deal. HSBC and Standard Chartered Bank are also the joint global coordinators.
Proceeds will be used to refinance existing debt.
CIFI is a property development, investment and management business with headquarters in Shanghai and Hong Kong.
| Issuer: | CIFI Holdings (Group) Co. Ltd.
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| Issue: | Senior notes
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| Amount: | RMB 1.2 billion
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| Maturity: | Aug. 19, 2023
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| Bookrunners: | Hongkong and Shanghai Banking Corp. Ltd., Standard Chartered Bank, China Industrial Securities International Brokerage Ltd. and CMBC Securities Co. Ltd.
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| Coupon: | 5.85%
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| Price: | Par
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| Yield: | 5.85%
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| Call option: | In whole at any time prior to Aug. 19, 2022 at make-whole price; in whole or in part on or after Aug. 19, 2022 at 102.925
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| Equity clawback: | Up to 35% at 105.85
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| Pricing date: | Aug. 12
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| Ratings: | S&P: BB-
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| Fitch: BB
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| Distribution: | Regulation S
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