By Rebecca Melvin
New York, Jan. 18 – Guangzhou R&F Properties Co. Ltd. priced $300 million of 9 1/8% three-year senior notes (//BB-) at 99.633 on Friday, according to an announcement.
The notes were issued through the company’s Easy Tactic Ltd. subsidiary.
The issuer may redeem the notes prior to Jan. 28, 2021 for a price of 104.5625% of the notes.
Goldman Sachs (Asia) LLC, CLSA, Credit Suisse, Deutsche Bank, Shenwan Hongyuan Securities (H.K.) Ltd. and HeungKong Financial were the bookrunners for the Regulation S sale.
Proceeds will be used to refinance offshore debt.
Guangzhou R&F is engaged in the development and sale of properties, property investment, hotel operations and other property development-related services in China. It is based in Guangzhou, China.
| Issuer: | Easy Tactic Ltd.
|
| Guarantor: | Guangzhou R&F Properties Co., Ltd.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | Jan. 28, 2022
|
| Bookrunners: | Goldman Sachs (Asia) LLC, CLSA, Credit Suisse, Deutsche Bank, Shenwan Hongyuan Securities (H.K.) Ltd. and HeungKong Financial
|
| Coupon: | 9 1/8%
|
| Price: | 99.633
|
| Call: | Make-whole call prior to Jan. 28, 2021 at 104.5625%
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 28
|
| Rating: | Fitch: BB-
|
| Distribution: | Regulation S
|
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