By Christine Van Dusen
Atlanta, Jan. 30 - China's Guangzhou R&F Properties Co. Ltd. - through Caifu Holdings Ltd. - priced a $200 million tap of its 8¾% notes due Jan. 24, 2020 at 100.5, a market source said.
The notes priced in line with talk, which was set at the 100.5 area.
Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley and UBS were the bookrunners for the Regulation S deal.
The notes are callable on Jan. 24, 2017.
The original $400 million issue priced earlier this month at par to yield 8¾%, or Treasuries plus 753 basis points.
The proceeds are expected to total $198 million and will be used to refinance existing debt, for land acquisition and for general corporate purposes.
Guangzhou R&F Properties Co. Ltd. is a real estate company based in Guangzhou, China.
| Issuer: | Caifu Holdings Ltd.
|
| Amount: | $200 million add-on
|
| Maturity: | Jan. 24, 2020
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley, UBS
|
| Coupon: | 8¾%
|
| Price: | 100.5
|
| Call features: | Callable on Jan. 24, 2017
|
| Trade date: | Jan. 30
|
| Distribution: | Regulation S
|
| Price talk: | 100.5 area
|
| Original issue: | $400 million priced in January 2013 at par
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
