New Issue: China’s Powerlong sells $300 million 7 1/8% notes due 2022 at 99.536

By Wendy Van Sickle

Columbus, Ohio, Nov. 4 – Powerlong Real Estate Holdings Ltd. sold $300 million of 7 1/8% senior notes (B2) due Nov. 8, 2022 at 99.536, according to an announcement.

BofA Securities, Credit Suisse, Guotai Junan International, Haitong International, HSBC and UBS 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:	$300 million
Maturity:	Nov. 8, 2022
Bookrunners:	BofA Securities, Credit Suisse, Guotai Junan International, Haitong International, HSBC and UBS
Coupon:	7 1/8%
Price:	99.536
Call options:	Make-whole call for first two years, then callable at 103.5625; 35% equity clawback at 107.125
Pricing date:	Nov. 4
Settlement date:	Nov. 8
Rating:	Moody’s: B2
Distribution:	Regulation S

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