By Rebecca Melvin
Concord, N.H., Aug. 27 – Yuzhou Group Holdings Co. Ltd. priced $200 million of 9.95% green senior notes due 2023 (//B+) at par, according to a notice on Friday.
Haitong International, BOC International and HSBC are joint global coordinators, joint bookrunners and joint lead managers of the Regulation S notes. BOC is green structuring advisor.
Proceeds will be used to refinance medium- and long-term debt due within a year. Since the notes are designated as green, the company will allocate an amount equivalent to net proceeds to finance or refinance eligible green projects with environment benefits.
Based in Shanghai, Yuzhou develops residential properties in southern China.
| Issuer: | Yuzhou Group Holdings Co. Ltd.
|
| Issue: | Green senior notes
|
| Amount: | $200 million
|
| Maturity: | June 8, 2023
|
| Coupon: | 9.95%
|
| Price: | Par
|
| Yield: | 9.95%
|
| Call: | Make-whole call until Sept. 8, 2022, then at par
|
| Equity clawback: | For 35% at 109.95 before Sept. 8, 2022
|
| Bookrunners: | Haitong International, BOC International and HSBC
|
| Ratings: | Fitch: B+
|
| Pricing date: | Aug. 27
|
| Distribution: | Regulation S
|
| Trustee: | Deutsche Bank Trust Co. Americas
|
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