By Mary-Katherine Stinson
Lexington, Ky., Sept. 9 – NWD Finance (BVI) Ltd. priced an additional $150 million senior perpetual capital securities guaranteed by New World Development Co. Ltd., according to a company release.
The securities have an initial distribution rate of 5¼%.
The new securities will be combined with and form a single series with the previously issued $850 million guaranteed senior perpetual capital securities, which includes $200 million issued June 30, 2020 and $650 million issued June 22, 2020.
The listing is expected to become effective Sept. 10.
JP Morgan is the lead manager, global coordinator, and bookrunner.
New World Development is a Hong Kong-based conglomerate.
| Issuer: | NWD Finance (BVI) Ltd.
|
| Guarantor: | New World Development Co. Ltd.
|
| Issue: | Senior capital securities
|
| Amount: | $150 million
|
| Maturity: | Perpetual
|
| Bookrunner: | JP Morgan
|
| Coupon: | 5¼%
|
| Pricing date: | Sept. 3
|
| Listing date: | Sept. 10
|
| Total issue size: | $1 billion, including $650 million issued June 22, 2020 and $200 million issued June 30, 2020
|
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