Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fujian Yango Group Co. Ltd. > News item |
China’s Yango Cayman receives, accepts tenders of 74.59% of 12½% notes
By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – Yango (Cayman) Investment Ltd. received tenders for $212.57 million, or 74.59%, of its $285 million of outstanding 12½% senior notes due 2021 (ISIN: XS2053813338) by the expiry of its tender offer for the notes, according to an announcement.
The tender offer was announced on July 26 and expired at 11 a.m. ET on Aug. 2. Settlement is planned for Aug. 4.
The company was offering par plus accrued interest up to but excluding the settlement date, as previously reported.
Yango was planning to sell an offering of new bonds and said it would buy notes up to the principal amount of that transaction. The company said Tuesday that it would accept all of the tenders, after which $72.43 million of the existing notes will remain outstanding.
UBS AG Hong Kong Branch (+852 2971 8848 or ol-projectjupiter@ubs.com) and Guotai Junan International (+852 2509 5342 or dcm.mercury@gtjas.com.hk) are dealer managers. D.F. King Ltd. is information and tender agent (+44 20 7920 9700, +852 3953 7208, yango@dfkingltd.com or https://sites.dfkingltd.com/yango).
Yango (Cayman) Investment Ltd. is a subsidiary of Fujian Yango Group Co. Ltd., a real estate development business located in Fujian, China.
© 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.