Hong Kong’s Imperial Pacific plans at least $60 million 8˝% notes

By Marisa Wong

Morgantown, W.Va., Jan. 11 – Imperial Pacific International Holdings Ltd. said its wholly owned subsidiary, Imperial Pacific International (CNMI), LLC, is proposing to issue at least $60 million of 8˝% senior secured notes due 2020.

The notes (expected: B1//B-) will be offered at par.

The notes will be callable at par plus an applicable premium in whole at any time and at 108.5 under a 35% equity clawback provision.

The company intends to use the proceeds from the Regulation S deal to finance its development of the Grand Mariana Hotel and Casino in Garapan, Saipan.

Imperial Pacific is a Hong Kong-based investment holding company.

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