New Issue: China’s Yestar prices $200 million 6.9% five-year notes at par

New York, Sept. 8 – Yestar International Holdings Co. Ltd. priced a $200 million offering of 6.9% senior notes due 2021 (Ba3/-/BB-) at par, according to a company announcement.

The bookrunners were BofA Merrill Lynch, Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Singapore Branch and Haitong International Securities Co. Ltd. BofA was global coordinator.

Proceeds will be used to refinance existing debt, fund capital expenditures and acquisitions, and for general corporate purposes.

Yestar is a Shanghai-based supplier of medical consumables for the in vitro diagnostic market and a manufacturer and distributor of medical imaging products.

Issuer:	Yestar International Holdings Co. Ltd.
Issue:	Senior notes
Amount:	$200 million
Maturity:	2021
Coupon:	6.9%
Price:	Par
Yield:	6.9%
Call:	Make-whole call until Sept. 15, 2019, then at 103.45, from Sept. 15, 2020 at 101.725
Equity clawback:	For 35% at 106.9 until Sept. 15, 2019
Ratings:	Moody’s: Ba3
	Fitch: BB- (expected)
Pricing date:	Sept. 8
Bookrunners:	BofA Merrill Lynch (global coordinator), Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Singapore Branch and Haitong International Securities Co. Ltd.
Distribution:	Regulation S

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