Published on 9/19/2018 in the Prospect News Emerging Markets Daily.
New Issue: China’s Maoye prices $150 million 13¼% notes due 2020
New York, Sept. 19 – Maoye International Holdings Ltd. priced $150 million of 13¼% notes due 2020, according to an announcement.
The notes will be guaranteed by Maoye’s subsidiaries.
Deutsche Bank AG, Singapore Branch, Guotai Junan Securities (Hong Kong) Ltd., UBS AG Hong Kong Branch, Haitong International Securities Co. Ltd., DBS Bank Ltd., Guosen Securities (HK) Brokerage Co. Ltd. and CMB International Capital Ltd., CMB International Capital Ltd. and AMTD Global Markets Ltd. are the joint bookrunners and joint lead managers. Deutsche Bank, Guotai Junan and UBS are also joint global coordinators for the Regulation S offering.
Proceeds will be used to supplement general working capital and to repay existing debt.
Maoye is a department store based in Shenzhen, China.
| Issuer: | Maoye International Holdings Ltd.
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| Issue: | Senior guaranteed notes
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| Amount: | $150 million
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| Maturity: | Sept. 27, 2020
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| Coupon: | 13¼%
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| Price: | Par
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| Put: | Sept. 19, 2019 at par
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| Pricing date: | Sept. 19
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| Bookrunners: | Deutsche Bank AG, Singapore Branch, Guotai Junan Securities (Hong Kong) Ltd., UBS AG Hong Kong Branch (global coordinators), Haitong International Securities Co. Ltd., DBS Bank Ltd., Guosen Securities (HK) Brokerage Co. Ltd., CMB International Capital Ltd. and AMTD Global Markets Ltd.
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| Distribution: | Regulation S
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