By Marisa Wong
Morgantown, W.Va., Jan. 11 – Mingfa Group (International) Co. Ltd. priced $200 million of 11% one-year bonds on Thursday, according to a company announcement.
The bonds will be sold at par plus accrued interest from Jan. 17 to the closing date.
Head & Shoulders Securities Ltd. is placement agent for the best-efforts offering.
The bonds are putable at 101 upon a change of control.
Proceeds from the Regulation S sale will be used to refinance existing debt and for general corporate purposes.
Mingfa is a real estate developer based in Hong Kong.
| Issuer: | Minga Group (International) Co. Ltd.
|
| Issue: | Bonds
|
| Amount: | $200 million
|
| Maturity: | Jan. 16, 2019
|
| Placement agent: | Head & Shoulders Securities Ltd.
|
| Coupon: | 11%
|
| Price: | Par plus accrued interest from Jan. 17 to the closing date
|
| Change-of-control put: | At 101%
|
| Pricing date: | Jan. 11
|
| Distribution: | Regulation S
|
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