New Issue: China’s Powerlong sells $200 million 4 7/8% five-year notes at 99.018

By Marisa Wong

Morgantown, W.Va., Sept. 12 – Powerlong Real Estate Holdings Ltd. said it priced $200 million of 4 7/8% five-year notes at 99.018 on Friday.

Merrill Lynch International, Guotai Junan Securities (Hong Kong) Ltd., Hongkong and Shanghai Banking Corp. Ltd., Huatai Financial Holdings (Hong Kong) Ltd. and Credit Suisse (Hong Kong) Ltd. are the joint lead managers and joint bookrunners for the Regulation S offering.

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:	Sept. 15, 2021
Bookrunners:	Merrill Lynch International, Guotai Junan Securities (Hong Kong) Ltd., Hongkong and Shanghai Banking Corp. Ltd., Huatai Financial Holdings (Hong Kong) Ltd. and Credit Suisse (Hong Kong) Ltd.
Coupon:	4 7/8%
Price:	99.018
Call option:	At any time before Sept. 15, 2019, in whole at par plus applicable premium or 35% equity clawback at 104.875; after that, in whole or in part at 102.438 in year four and at 101.219 in year five
Pricing date:	Sept. 9
Distribution:	Regulation S

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