New Issue: China’s Yuzhou Properties sells $500 million 8.3% senior notes due 2025

Chicago, Nov. 21 – Yuzhou Properties Co. Ltd. priced $500 million of 8.3% senior notes (B1//BB-) due May 27, 2025 at par, according to a Stock Exchange of Hong Kong notice.

BOCI Asia Ltd., Deutsche Bank AG, Hong Kong Branch, Credit Suisse (Hong Kong) Ltd., HSBC Corp. Ltd., Barclays Bank plc, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd. and Yuzhou Financial Holdings Ltd. are the lead managers, bookrunners and global coordinators for the Regulation S offering.

Proceeds will be used to refinance existing debt due within one year.

Yuzhou is a property developer based in Hong Kong.

Issuer:	Yuzhou Properties Co. Ltd.
Issue:	Senior notes
Amount:	$500 million
Maturity:	May 27, 2025
Bookrunners:	BOCI Asia Ltd., Deutsche Bank AG, Hong Kong Branch, Credit Suisse (Hong Kong) Ltd., HSBC Corp. Ltd., Barclays Bank plc, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd. and Yuzhou Financial Holdings Ltd.
Coupon:	8.3%
Price:	Par
Yield:	8.3%
Call:	Make-whole call for the first three years, then callable at 103 in year four and 101 in year five
Equity clawback:	For up to 35% at 108.3
Pricing date:	Nov. 21
Settlement date:	Nov. 27
Distribution:	Regulation S
Ratings:	Moody’s: B1
	Fitch: BB-

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