Fosun’s Fortune Star launches capped tender offer for 6 7/8% notes

By Wendy Van Sickle

Columbus, Ohio, Oct. 12 – Fortune Star (BVI) Ltd. began a capped tender offer for its $410,266,000 of 6 7/8% senior notes due 2021 (ISIN: XS1884682763), according to an announcement.

The maximum acceptance amount is slated to be announced Tuesday and to be up to the amount of a concurrent new-money issuance.

The company is offering a purchase price of $1,014.75 per $1,000 principal amount of notes.

The offer will expire at 11 a.m. ET on Oct. 20.

The notes are guaranteed by Fosun International Ltd.

The offer is part of the company’s policy to actively manage its balance sheet liabilities and to optimize its debt structure.

If tenders exceed the maximum acceptance amount, tenders may be subject to proration.

Credit Suisse (Hong Kong) Ltd. (+852 2101 6000) and Deutsche Bank (+852 2503 8888) are working as the dealer managers.

D.F. King (+44 20 7920 9700, +852 3953 7230, fosun@dfkingltd.com, https://sites.dfkingltd.com/Fosun) is acting as the information and tender agent.

Fosun is a Shanghai-based conglomerate.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.