New Issue: Zhenro Properties sells $250 million 10˝% notes due 2020 to yield 11˝%

New York, June 21 – Zhenro Properties Group Ltd. priced $250 million of 10˝% senior notes (B3/B-) due 2020 at 98.257 to yield 11˝%, according to an announcement.

CCB International, Guotai Junan International, Haitong International, UBS and CEB International are global coordinators and also bookrunners with Deutsche Bank, Standard Chartered Bank and Morgan Fuel Go Securities Ltd.

Proceeds will be used to refinance debt.

The company is a real estate developer and property manager based in Shanghai.

Issuer:	Zhenro Properties Group Ltd.
Issue:	Senior notes
Amount:	$250 million
Maturity:	June 28, 2020
Coupon:	10˝%
Price:	98.257
Yield:	11˝%
Call:	Make-whole call at any time
Equity clawback:	For up to 35% at 110.5 at any time
Bookrunners:	CCB International, Guotai Junan International, Haitong International, UBS, CEB International (global coordinators), Deutsche Bank, Standard Chartered Bank and Morgan Fuel Go Securities Ltd.
Ratings:	Moody’s: B3
	S&P: B-
Pricing date:	June 21
Settlement:	June 28
Distribution:	Regulation S

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