By Marisa Wong
Los Angels, May 6 – SJM Holdings Ltd. priced HK$1.25 billion of 3.9% senior notes due 2026 and MOP 300 million of 3.9% senior notes due 2026 on Wednesday, according to a company announcement.
The Hong Kong dollar tranche and the Macau pataca tranche are both priced at par.
The notes will be issued through wholly owned subsidiary Champion Moments Ltd. and guaranteed by SJM.
Banco Nacional Ultramarino SA, Bank of Communications Co. Ltd. Macau Branch, China Construction Bank Corp. Macau Branch and Bank of East Asia Ltd. are joint bookrunners for the Regulation S deal.
Industrial and Commercial Bank of China (Macau) Ltd., Bank of China Ltd., Macau Branch and BNP Paribas are the joint global coordinators.
The notes will be listed on Macau’s exchange, Chongwa (Macao) Financial Asset Exchange Co. Ltd.
Proceeds are earmarked for refinancing the company’s syndicated credit facilities and for general corporate purposes.
The Hong Kong-based investment holding company is principally engaged in casino gaming businesses.
| Issuer: | Champion Moments Ltd.
|
| Guarantor: | SJM Holdings Ltd.
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| Issue: | Senior notes
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| Amounts: | HK$1.25 billion, MOP 300 million
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| Maturity: | May 12, 2026
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| Bookrunners: | Banco Nacional Ultramarino SA, Bank of Communications Co. Ltd. Macau Branch, China Construction Bank Corp. Macau Branch and Bank of East Asia Ltd.
|
| Global coordinators: | Industrial and Commercial Bank of China (Macau) Ltd., Bank of China Ltd., Macau Branch and BNP Paribas
|
| Coupon: | 3.9%
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| Price: | Par
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| Yield: | 3.9%
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| Call features: | Make-whole call in whole or in part at any time prior to May 12, 2024; in whole or in part at 101.95 beginning May 12, 2024 and at 100.975 beginning May 12, 2025
|
| Equity clawback: | Up to 35% at 103.9
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| Put option: | At 101 upon change of control; at par in special cases
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| Pricing date: | May 5
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| Issue date: | May 12
|
| Distribution: | Regulation S
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| Listing: | Chongwa (Macao) Financial Asset Exchange Co. Ltd.
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