Published on 7/2/2020 in the Prospect News Emerging Markets Daily.
New Issue: Fosun’s Fortune Star sells $600 million of 6.85% four-year notes
By Marisa Wong
Los Angeles, July 2 – Fosun International Ltd. subsidiary Fortune Star (BVI) Ltd. issued $600 million of 6.85% senior notes due 2024 (BB), according to a notice.
The notes are guaranteed by Fosun.
Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Hong Kong Branch, Commerzbank AG, Fosun Hani Securities Ltd., Hongkong and Shanghai Banking Corp. Ltd., Natixis, Standard Chartered Bank, BOCI Asia Ltd., China Citic Bank International Ltd. and CNCB (Hong Kong) Capital Ltd. are the lead managers and bookrunners.
Fosun is a Shanghai-based conglomerate.
| Issuer: | Fortune Star (BVI) Ltd.
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| Guarantor: | Fosun International Ltd.
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| Issue: | Senior notes
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| Amount: | $600 million
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| Maturity: | July 2, 2024
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| Bookrunners: | Credit Suisse (Hong Kong) Ltd., Deutsche Bank AG, Hong Kong Branch, Commerzbank AG, Fosun Hani Securities Ltd., Hongkong and Shanghai Banking Corp. Ltd., Natixis, Standard Chartered Bank, BOCI Asia Ltd., China Citic Bank International Ltd. and CNCB (Hong Kong) Capital Ltd.
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| Coupon: | 6.85%
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| Settlement date: | July 2
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| Rating: | S&P: BB
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