By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – Lai Fung Holdings Ltd. priced $350 million of 5.65% guaranteed notes (BB-) due 2023 at par on Wednesday, according to a company announcement.
DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd., Oversea-Chinese Banking Corp. Ltd. and UBS AG Hong Kong Branch are the joint lead managers.
The proceeds of the Regulation S deal will be used to repay the company’s RMB 1.8 billion 6 7/8% notes due in April and for general corporate purposes.
Lai Fung Holdings is part of Hong Kong-based Lai Sun Group, a conglomerate.
| Issuer: | Lai Fung Holdings Ltd.
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| Issue: | Guaranteed notes
|
| Amount: | $350 million
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| Maturity: | Jan. 18, 2023
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| Joint lead managers: | DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd., Oversea-Chinese Banking Corp. Ltd. and UBS AG Hong Kong Branch
|
| Coupon: | 5.65%
|
| Price: | Par
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| Yield: | 5.65%
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 18
|
| Expected ratings: | Fitch: BB-
|
| Distribution: | Regulation S
|
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