China’s Yuzhou Properties tenders for 7.9% notes due 2021

By Wendy Van Sickle

Columbus, Ohio, Oct. 22 – Yuzhou Properties Co. Ltd. began a tender offer for its $625 million of 7.9% senior notes due 2021, according to a notice.

The company is offering $1,035 per $1,000 principal amount of notes plus accrued interest.

The amount of tendered notes accepted is subject to be capped based on the amount of notes issued under a concurrent offering of dollar-denominated senior notes (proposed ratings: B1//BB-).

The tender offer will expire at 11 a.m. ET on Nov. 6.

The offer is conditioned on consummation of the new note issuance.

BOCI Asia Ltd. (852 3988 6910) and Deutsche Bank AG, Hong Kong Branch (852 2203 8398) are joint dealer managers.

D.F. King Ltd. (+44 207 920-9700, 852 3953 7231 or yuzhouproperties@dfkingltd.com) is the information and tender agent.

Yuzhou is a property developer based in Hong Kong.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.