By Angela McDaniels
Tacoma, Wash., June 13 –Yango Justice International Ltd. priced $300 million of 10¼% notes (//B3) due March 18, 2022 at 98.279, according to an announcement from China Minsheng Financial Holding Corp. Ltd.
The callable notes are guaranteed by parent company Yango Group Co., Ltd.
The settlement date is expected to be June 18.
Approval in principle has been received to list the notes on the SGX-ST.
CM Securities Investment Ltd., a wholly owned subsidiary of the China Minsheng Financial, bought $10 million of the notes.
Proceeds will be used to refinance existing debt, according to Fitch Ratings.
Yango Group is a real estate development company based in Fujian, China.
| Issuer: | Yango Justice International Ltd.
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| Guarantor: | Yango Group Co., Ltd.
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| Amount: | $300 million
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| Maturity: | March 18, 2022
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| Coupon: | 10¼%
|
| Price: | 98.279
|
| Call option: | Yes
|
| Settlement date: | June 18
|
| Rating: | Fitch: B3
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