New Issue: China South City prices $150 million 10 7/8% notes due 2020 at 99.654

By Marisa Wong

Morgantown, W.Va., May 17 – China South City Holdings Ltd. said it priced $150 million of 10 7/8% senior notes due Aug. 24, 2020 (/B-/B) at 99.654 on Thursday.

UBS, BofA Merrill Lynch, Guotai Junan International, HSBC, AMTD, Haitong International and China Merchants Securities (HK) are joint bookrunners and joint lead managers for the Regulation S transaction, according to a company announcement.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Based in Hong Kong, China South City develops and operates large-scale, integrated logistics and trade centers in China.

Issuer:	China South City Holdings Ltd.
Issue:	Senior notes
Amount:	$150 million
Maturity:	Aug. 24, 2020
Bookrunners:	UBS, BofA Merrill Lynch, Guotai Junan International, HSBC, AMTD, Haitong International and China Merchants Securities (HK)
Coupon:	10 7/8%
Price:	99.654
Call option:	In whole at any time at par plus an applicable premium
Equity clawback:	Up to 35% at 110.875
Pricing date:	May 17
Settlement date:	May 24
Ratings:	S&P: B-
	Fitch: B
Distribution:	Regulation S

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