Oceanwide eyes new-money notes to coincide with exchange offer

By Wendy Van Sickle

Columbus, Ohio, April 30 – China’s Oceanwide Holdings Co., Ltd. said it is planning a new-money issuance of notes to be issued by Oceanwide Holdings International Development III Co., Ltd.

The notes would be guaranteed by Oceanwide Holdings.

The new-money issuance is being planned in connection with an exchange offer for the $400 million of 8½% senior notes due May 28, 2019 issued by Oceanwide Holdings International 2017 Co., Ltd.

Any new-money notes would be consolidated and form a single series with the notes issued to settle that exchange offer, which runs through May 10.

Pricing of the new-money issue is expected to occur on May 14.

The conglomerate is based in Beijing.

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