China’s Golden Wheel Tiandi tenders for 7% senior notes due 2021

By Marisa Wong

Los Angeles, Jan. 6 – Golden Wheel Tiandi Holdings Co. Ltd. is offering to purchase for cash its outstanding $400 million 7% senior notes due 2021.

The maximum acceptance amount will be announced on Tuesday, according to a notice.

The tender offer will expire at 5 p.m. ET on Jan. 15.

The company is offering to purchase the notes at $967.50 per $1,000 principal amount plus accrued interest.

Settlement is expected to occur no later than Jan. 17.

Golden Wheel said the tender offer is part of a refinancing transaction that includes an issuance of new notes. The company expects to issue senior notes maturing after Jan. 18, 2021.

The tender offer is conditioned on the issuance of new notes, proceeds of which would be used to purchase notes under the tender offer.

BOCI Asia is the dealer manager for the tender offer, and D.F. King Ltd. is the information and tender agent.

Golden Wheel Tiandi is a Hong Kong-based commercial and residential property developer, owner and operator that focuses on projects in Jiangsu and Hunan provinces that are physically connected or in close proximity to metro stations or other transportation hubs.

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