By William Gullotti
Buffalo, N.Y., Sept. 21 – eHi Car Services Ltd. priced $300 million of 7% senior notes due 2026 (B+/B), according to a listing notice Tuesday.
The notes are guaranteed by certain existing subsidiaries.
Deutsche Bank and J.P. Morgan are the joint global coordinators, joint bookrunners and joint lead managers for the offering. Also serving as joint lead managers and joint bookrunners are HSBC and UBS.
The new notes are being sold concurrently with a tender offer for the company’s $251.56 million notes due in 2022.
Listing for the notes is expected on the Stock Exchange of Hong Kong effective Sept. 23.
eHi Car Services Ltd. is a car rental and services company based in Shanghai.
| Issuer: | eHi Car Services Ltd.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | 2026
|
| Bookrunners: | Deutsche Bank, J.P. Morgan, HSBC, UBS
|
| Coupon: | 7%
|
| Pricing date: | Sept. 14
|
| Listing date: | Sept. 23
|
| Rating: | S&P: B+
|
| Fitch: B
|
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