Chicago, May 26 – AAC Technologies Holdings Inc. sold $650 million of notes in two parts, according to an announcement.
The company priced a $300 million tranche of 2 5/8% notes due 2026 at 99.87.
Additionally, AAC sold a $350 million part of 3¾% notes due 2031 at 99.193.
Both series have make-whole call and then par calls.
J.P. Morgan Securities plc, Citigroup Global Markets Ltd. and China International Capital Corp. Hong Kong Securities Ltd. were joint global coordinators for the Regulation S issue.
Joining those banks as joint bookrunners and joint lead managers are DBS Bank Ltd. and HSBC Ltd.
Proceeds will be used for refinancing and general corporate purposes.
The notes will be listed on the Stock Exchange of Hong Kong Ltd.
The company is a Hong Kong based supplier of products to leading mobile phone and consumer electronics makers.
| Issuer: | AAC Technologies Holdings Inc.
|
| Issue: | Notes
|
| Amount: | $650 million
|
| Bookrunners: | J.P. Morgan Securities plc, Citigroup Global Markets Ltd., China International Capital Corp. Hong Kong Securities Ltd., DBS Bank Ltd. and HSBC Ltd.
|
| Trustee: | DB Trustees (Hong Kong) Ltd.
|
| Change of control: | At 101
|
| Trade date: | May 25
|
| Settlement date: | June 2
|
| Ratings: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
|
|
| 2026 notes
|
| Amount: | $300 million
|
| Maturity: | June 2, 2026
|
| Coupon: | 2 5/8%
|
| Price: | 99.87
|
| Call features: | Make-whole call until May 2, 2026; then a par call
|
|
|
| 2031 notes
|
| Amount: | $350 million
|
| Maturity: | June 2, 2031
|
| Coupon: | 3¾%
|
| Price: | 99.193
|
| Call features: | Make-whole call until March 2, 2031; then a par call
|
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