Published on 8/10/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s E-House sells $100 million additional 7 5/8% notes due 2022
Chicago, Aug. 10 – E-House (China) Enterprise Holdings Ltd. sold an additional $100 million of 7 5/8% senior notes due 2022 at 100.99, according to an announcement.
The notes will be consolidated and form a single series with the $200 million 7 5/8% senior notes issued on Oct. 18, 2019.
BOCI Asia Ltd., Citigroup Global Markets Ltd., CRIC Securities Co. Ltd. and Valuable Capital Ltd. are the joint global coordinators, joint bookrunners and joint lead managers.
AMTD Global Markets Ltd., Central Wealth Securities Investment Ltd., CMBC Capital, CMBC Securities Co. Ltd., Haitong International Securities Co. Ltd., Orient Securities (Hong Kong) Ltd., Soochow Securities International and Vision Capital International Holdings Ltd. join as joint bookrunners and joint lead managers.
Proceeds from the Regulation S add-on will be used for general corporate purposes and to refinance existing debt.
Shanghai-based E-House is a real estate services company.
| Issuer: | E-House (China) Enterprise Holdings Ltd.
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| Amount: | $100 million, add-on
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| Maturity: | April 18, 2022
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| Description: | Senior notes
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| Bookrunners: | BOCI Asia Ltd., Citigroup Global Markets Ltd., CRIC Securities Co. Ltd. and Valuable Capital Ltd. (global coordinators), Central Wealth Securities Investment Ltd., China Investment Securities International, China Merchants Securities (HK), CMB International, CMB Wing Lung Bank Ltd., DBS Bank Ltd., Everbright Sun Hung Kai, Founder Securities (Hong Kong) Ltd., Future Land Resources, Orient Securities (Hong Kong), SPDB International and UBS
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| Coupon: | 7 5/8%
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| Price: | 100.99
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| Call: | Make-whole call at any time before April 18, 2022
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| Equity clawback: | Up to 35% at 107.625
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| Trade date: | Aug. 7
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| Settlement date: | Aug. 14
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| Distribution: | Regulation S
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| Original issue: | $200 million of 7 5/8% senior notes issued on Oct. 18, 2019
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