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Prospect News home > News index > List of issuers P > Headlines for Powerlong Real Estate Holdings Ltd. > News item
Published on 10/17/2016 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

China’s Powerlong tenders for RMB 1.5 billion of 10¾% notes due 2017

By Wendy Van Sickle

Columbus, Ohio, Oct. 17 – Powerlong Real Estate Holdings Ltd. began a tender offer for any and all of its RMB 1.5 billion of 10¾% senior notes due Sept. 18, 2017, according to a company notice.

The issuer will pay RMB 10,550 for each RMB 10,000 principal amount of tendered notes plus accrued interest through settlement.

The offer expires at 5 a.m. ET on Oct. 26.

Settlement is expected to occur on Nov. 2.

Repurchased notes will be canceled. The offer will be funded with internal cash resources, the company said.

D.F. King Ltd. (852-3953-7230, 44 207-920-9700 or powerlong@dfkingltd.com) is the information and tender agent. Hongkong and Shanghai Banking Corp. Ltd. (852-2822-4100, 44 20 7992-6237, 212-525-5552 or liability.management@hsbcib. com) is the dealer manager.

The real estate company is based in Hong Kong.


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