China’s Zensun Enterprises proposes offering of guaranteed notes

By William Gullotti

Buffalo, N.Y., Sept. 16 – Zensun Enterprises Ltd. released a proposal for a guaranteed dollar-denominated fixed-rate senior note offering (B3), according to a notice Thursday.

The notes will be guaranteed by parent Zensun Group Ltd. and subsidiary guarantors. The subsidiary guarantors named in the notice are Zensun International Holdings Company Ltd., HQ Neptune Investments Ltd., Honor Challenge Investment Ltd., Vigor Capital Holdings Ltd., Ever Diamond Global Company Ltd., Champ Win Enterprise Ltd. and Total Star Development Ltd.

Guotai Junan International, Haitong International, CCB International, Sheng Yuan Securities, Bocom International, AMC Wanhai Securities, OCI Asset Management, Central China International and Vision Capital International are expected to enter a purchase agreement for the Regulation S notes along with the aforementioned guarantors.

Proceeds will be used to repay offshore debt due within one year.

The notes will be listed on the Stock Exchange of Hong Kong Ltd.

Zensun is the largest residential property developer in Zhengzhou.

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