New Issue: China’s Powerlong sells $200 million 6¼% notes due 2024 at 99.132

Chicago, Aug. 3 – Powerlong Real Estate Holdings Ltd. sold $200 million of 6¼% senior notes due Aug. 10, 2024 (B2) at 99.132, according to an announcement.

Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Hong Kong Branch, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd., UBS AG Hong Kong Branch, China Citic Bank International Ltd., China Industrial Securities International Brokerage Ltd. and Bank of East Asia, Ltd. were bookrunners for the Regulation S issue.

Proceeds will be used to refinance existing debt.

The real estate company is based in Hong Kong.

Issuer:	Powerlong Real Estate Holdings Ltd.
Issue:	Senior notes
Amount:	$200 million
Maturity:	Aug. 10, 2024
Bookrunners:	Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Hong Kong Branch, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd., UBS AG Hong Kong Branch, China Citic Bank International Ltd., China Industrial Securities International Brokerage Ltd. and Bank of East Asia, Ltd.
Coupon:	6¼%
Price:	99.132
Call option:	Any time before Aug. 10, 2022 make-whole call; after Aug. 10, 2022 at 103.125; after Aug. 10, 2023 at 101.625
Equity clawback:	Up to 35% at 106.25
Pricing date:	Aug. 3
Settlement date:	Aug. 10
Rating:	Moody’s: B2
Distribution:	Regulation S

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