E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 11/30/2020 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Dexin China starts tender offer for $90 million of 12 7/8% notes

Chicago, Nov. 30 – Dexin China Holdings Co. Ltd. is offering to purchase for cash up to $90 million of its $300 million outstanding 12 7/8% senior notes due 2021 (ISIN: XS2035536098), according to an announcement.

The notes will be repurchased at $1,022.50 per $1,000 of notes, plus interest.

Tenders are subject to proration.

The expiration deadline is 11 a.m. ET on Dec. 4 with settlement expected for Dec. 9.

The company is using the offer to actively manage its balance sheet liabilities and optimize its debt structure.

Financing for the offer will come from a concurrent new money issuance and internal funding.

Guotai Junan Securities (Hong Kong) Ltd. (dcm.horizon2019@gtjas.com.hk), Credit Suisse (Hong Kong) Ltd. (list.liabilitymanagementasia@credit-suisse.com) and UBS AG Hong Kong Branch (ol-gb+-horizon@ubs.com) are working as the dealer managers.

D.F. King Ltd. is the information and tender agent (+44 20 7920 9700, +852 3953 7208, dexin@dfkingltd.com, https://sites.dfkingltd.com/dexin).

The company is an investment holding company. Its subsidiaries are involved in construction services and property development.


© 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.