China’s Red Star Macalline to price up to $300 million of bonds

By William Gullotti

Buffalo, N.Y., March 30 – Red Star Macalline Group Corp. Ltd. has proposed to issue up to $300 million of bonds with a maturity of up to five years, according to an announcement on Wednesday.

According to the announcement, Red Star is seeking a guarantee or other credit enhancement to further back the proposed Regulation S offering.

The offering may be issued at once or in tranches over a maximum of 24 months.

Proceeds will be used for repaying interest-bearing debts of the company and its subsidiaries.

A listing application will be made to the Hong Kong Stock Exchange or Singapore Stock Exchange.

The issuer is a Shanghai-based operator and manager of home furnishings shopping malls.

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