By Cady Vishniac
Detroit, Nov. 24 – Zhongliang Holdings Group Co. Ltd. priced a $50 million add-on to its 9½% senior notes due July 29, 2022 (//B+/Lianhe: BB), according to a listing notice.
The notes have identical terms to the original issue except issue date and issue price.
The initial purchaser will be UBS AG Hong Kong Branch.
Application has been made to list the bonds with the Stock Exchange of Hong Kong Ltd.
Proceeds will be used to refinance debt.
Zhongliang Holdings is a Chinese residential property management company based in Shanghai.
| Issuer: | Zhongliang Holdings Group Co. Ltd.
|
| Issue: | Senior notes
|
| Amount: | $50 million, add-on
|
| Maturity: | July 29, 2022
|
| Bookrunner: | UBS AG Hong Kong Branch
|
| Trustee: | China Construction Bank (Asia) Corp. Ltd.
|
| Coupon: | 9½%
|
| Price: | 99.603
|
| Call option: | At par plus a make-whole premium until July 29, 2022; thereafter at par
|
| Change of control: | At 101
|
| Equity clawback: | Up to 35% at 109.5
|
| Pricing date: | Nov. 16
|
| Issue date: | Nov. 23
|
| Ratings: | Fitch: B+
|
| Lianhe: BB
|
| Distribution: | Regulation S
|
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