By Marisa Wong
Los Angeles, Jan. 4 – Hong Kong’s Powerlong Real Estate Holdings Ltd. priced $100 million of additional 5.95% senior notes due April 30, 2025 at 102.656, according to a company announcement.
The new notes will be consolidated and form a single series with the original $200 million of notes issued on Oct. 30 and the $100 million of add-on notes issued on Dec. 28.
Merrill Lynch (Asia Pacific) Ltd., Credit Suisse (Hong Kong) Ltd., Guotai Junan Securities (Hong Kong) Ltd., J.P. Morgan Securities plc and UBS AG Hong Kong Branch are the bookrunners for the latest Regulation S add-on.
The company intends to use the proceeds to redeem medium- to long-term debt that will become due within one year.
The real estate company is based in Hong Kong.
| Issuer: | Powerlong Real Estate Holdings Ltd.
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| Issue: | Senior notes add-on
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| Amount: | $100 million
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| Maturity: | April 30, 2025
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| Bookrunners: | Merrill Lynch (Asia Pacific) Ltd., Credit Suisse (Hong Kong) Ltd., Guotai Junan Securities (Hong Kong) Ltd., J.P. Morgan Securities plc and UBS AG Hong Kong Branch
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| Coupon: | 5.95%
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| Price: | 102.656
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| Pricing date: | Jan. 4
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| Settlement date: | Jan. 11
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| Distribution: | Regulation S
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| Total amount: | $400 million, including $200 million issued on Oct. 30 and $100 million issued on Dec. 28
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