Chicago, Aug. 13 – China’s Zhenro Properties Group Ltd. announced an add-on for $110 million to its previously issued $200 million of 9.15% senior notes (B2/B-) due 2022, according to a notice.
The notes will be consolidated and form a single class with the original issue from March 8.
Standard Chartered Bank, CMB International and Haitong International are joint global coordinators, joint lead managers and joint bookrunners for the Regulation S notes.
Proceeds will be used to refinance debt but may be reallocated based on changing market conditions.
The company is a real estate developer and property manager based in Shanghai.
| Issuer: | Zhenro Properties Group Ltd.
|
| Issue: | Senior notes add-on
|
| Amount: | $110 million
|
| Maturity: | March 8, 2022
|
| Bookrunners: | Standard Chartered Bank, CMB International and Haitong International
|
| Coupon: | 9.15%
|
| Price: | 101.341
|
| Announcement date: | Aug. 13
|
| Ratings: | Moody’s: B2
|
| S&P: B-
|
| Distribution: | Regulation S
|
| Original issue: | March 8
|
| Total issue: | $310 million, including $200 million sold previously
|
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