New Issue: Zhenro Properties sells $150 million more 10˝% notes due 2020

By Rebecca Melvin

New York, Jan. 23 – Zhenro Properties Group Ltd. priced a $150 million add-on to its 10˝% senior notes (B3/B-) due June 28, 2020, according to an announcement.

Zhenro originally priced $250 million of the 10˝% notes on June 28, 2018.

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

Issuer:	Zhenro Properties Group Ltd.
Issue:	Senior notes
Amount:	$150 million add-on
Maturity:	June 28, 2020
Coupon:	10˝%
Call:	Make-whole call at any time
Equity clawback:	For up to 35% at 110.5 at any time
Pricing date:	Jan. 23
Ratings:	Moody’s: B3
	S&P: B-
Distribution:	Regulation S
Total issue size:	$400 million, including $250 million priced on June 28, 2018

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