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Guangdong Hong Kong Greater Bay extends exchange offer for 14% notes
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Guangdong-Hong Kong Greater Bay Area Holdings Ltd. pushed out the deadline of its exchange offer for its 14% senior notes due 2021 (ISIN: XS2084960009), according to an announcement.
The offer will now expire at 11 a.m. ET on Oct. 7, extended from 11 a.m. ET on Oct. 4.
As announced on Sept. 23, the company is offering to exchange $1,000 of existing notes for $1,000 of new two-year notes. Noteholders will also receive a redemption premium of $21.80 and accrued interest. The interest rate for the new notes will be set at pricing of a concurrent new money issue.
Pricing for the new notes will take place after the exchange deadline.
Settlement is planned for Oct. 12.
The exchange offer is open to Regulation S noteholders. Notes cannot be withdrawn once they are submitted.
Haitong International, Guotai Junan International and Potomac Capital Ltd. are the dealer managers.
D.F. King (+44 20 7920 9700, +852 3953 7231, youngo@dfkingltd.com, https://sites.dfkingltd.com/youngo) is the information and exchange agent.
The state-owned investment holding company is based in Guangdong, China.
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