By Sarah Lizee
Olympia, Wash., Feb. 27 – Guangzhou R&F Properties Co., Ltd. unit Easy Tactic Ltd. sold $400 million of 8 5/8% senior notes due 2024 at par on Wednesday, according to a notice.
The notes are guaranteed by Guangzhou R&F.
Goldman Sachs (Asia) LLC, Standard Chartered Bank, HeungKong Financial, China Citic Bank International, CLSA and Haitong International are the arrangers.
The notes can be called in whole prior to March 5, 2022 at par plus a make-whole premium and accrued interest. After March 5, 2022, the issuer may redeem the notes in whole or in part, at 104.3125 in 2022 and at 102.15625 in 2023.
Proceeds will be used to refinance offshore debt.
Guangzhou R&F is engaged in the development and sale of properties, property investment, hotel operations and other property development-related services in China. It is based in Guangzhou, China.
| Issuer: | Easy Tactic Ltd.
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| Guarantor: | Guangzhou R&F Properties Co., Ltd.
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| Issue: | Senior notes
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| Amount: | $400 million
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| Maturity: | 2024
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| Bookrunners: | Goldman Sachs (Asia) LLC, Standard Chartered Bank, HeungKong Financial, China Citic Bank International, CLSA and Haitong International
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| Coupon: | 8 5/8%
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| Price: | Par
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| Call: | Make-whole call until March 5, 2022; after that at 104.3125, stepping down to 102.15625 in 2023
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| Pricing date: | Feb. 27
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| Settlement date: | March 5
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