New Issue: China’s Powerlong sells $250 million add-on to 6.95% notes due 2023

Chicago, June 10 – Powerlong Real Estate Holdings Ltd. sold an additional $250 million of 6.95% senior notes due July 23, 2023 at 99.853, according to an announcement.

The issuer originally priced $170 million of the notes, which will be consolidated and form a single series.

Merrill Lynch (Asia Pacific) Ltd., Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Hong Kong Branch, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd., J.P. Morgan Securities plc, UBS AG Hong Kong Branch, HSBC Ltd., China Citic Bank International Ltd., BOCI Asia Ltd. and Bank of East Asia, Ltd. are the joint lead managers and joint bookrunners for the Regulation S issue.

Proceeds will be used to refinance existing debt due within one year.

The real estate company is based in Hong Kong.

Issuer:	Powerlong Real Estate Holdings Ltd.
Issue:	Senior notes
Amount:	$250 million
Maturity:	July 23, 2023
Bookrunners:	Merrill Lynch (Asia Pacific) Ltd., Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Hong Kong Branch, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd., J.P. Morgan Securities plc, UBS AG Hong Kong Branch, HSBC Ltd., China Citic Bank International Ltd., BOCI Asia Ltd. and Bank of East Asia, Ltd.
Coupon:	6.95%
Price:	99.853
Call options:	At 103.475 during the 12 months beginning July 23, 2021 and at 101.7375 during the 12 months beginning July 23, 2022, plus accrued interest
Equity clawback:	Up to 35% at 106.95
Pricing date:	June 10
Issue date:	June 17
Distribution:	Regulation S
Original issue:	$170 million

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