New Issue: China’s Yuzhou Properties prices $500 million 8 5/8% notes due 2022

By Wendy Van Sickle

Columbus, Ohio, Jan. 15 – Yuzhou Properties Co. Ltd. priced $500 million of 8 5/8% three-year senior notes (B1//BB-) at par on Tuesday, according to a company announcement.

The bookrunners, global coordinators and lead managers for the sale are BOC International, Credit Suisse, Goldman Sachs (Asia) LLC, Haitong International, CICC HK Securities and Yuzhou Financial.

Proceeds from the Regulation S offering will be used mainly to refinance existing debt.

Yuzhou is a property developer based in Hong Kong.

Issuer:	Yuzhou Properties Co. Ltd.
Issue:	Senior notes
Amount:	$500 million
Maturity:	Jan. 23, 2022
Bookrunners:	BOC International, Credit Suisse, Goldman Sachs (Asia) LLC, Haitong International, CICC HK Securities and Yuzhou Financial
Coupon:	8 5/8%
Price:	Par
Yield:	8 5/8%
Call:	Make-whole call
Equity clawback:	For up to 35% at 108.625
Pricing date:	Jan. 15
Ratings:	Moody’s: B1
	Fitch: BB-
Distribution:	Regulation S

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