China’s Seazen Group to price senior notes via New Metro Global

By Marisa Wong

Los Angeles, Jan. 26 – Seazen Group Ltd. is proposing to conduct an international offering of senior notes. The notes (Ba1//BB+) will be issued by subsidiary New Metro Global Ltd. and guaranteed by the parent company.

Pricing will be determined through a bookbuilding exercise.

Proceeds from the Regulation S offering will be used mainly to refinance existing medium- to long-term offshore debt that becomes due within one year.

Seazen said it may launch a concurrent offer to purchase New Metro’s outstanding senior notes.

The real estate development company is based in Shanghai.

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