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Prospect News home > News index > List of issuers C > Headlines for China South City Holdings Ltd. > News item
Published on 1/6/2021 in the Prospect News Emerging Markets Daily.

New Issue: China South City prices $120 million add on to 10¾% notes due 2023 at 96.521

New York, Jan. 6 – China South City Holdings Ltd. priced a $120 million add on to its 10¾% senior notes due April 11, 2023 (//B), according to a company announcement.

UBS AG Hong Kong Branch, Guotai Junan Securities (Hong Kong) Ltd. and Haitong International Securities Co. Ltd. were joint global coordinators and joint bookrunners and joint lead managers with BNP Paribas, CCB International Capital Ltd., China Citic Bank International Ltd., Deutsche Bank AG, Hong Kong Branch, Standard Chartered Bank, HeungKong Securities Ltd., Admiralty Harbour, Orient Securities (Hong Kong) Ltd. and Fortune (HK) Securities Ltd. were bookrunners.

Further details were not disclosed.

Proceeds of $123.15 million will be used to refinance debt and for general corporate purposes.

The company priced the original $250 million of the notes (//B) on Sept. 2 at 96.521.

Based in Hong Kong, China South City develops and operates large-scale, integrated logistics and trade centers in China.

Issuer:China South City Holdings Ltd.
Issue:Senior notes
Amount:$120 million add on
Maturity:April 11, 2023
Bookrunners:UBS AG Hong Kong Branch, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co. Ltd. (global coordinators), BNP Paribas, CCB International Capital Ltd., China Citic Bank International Ltd., Deutsche Bank AG, Hong Kong Branch, Standard Chartered Bank, HeungKong Securities Ltd., Admiralty Harbour, Orient Securities (Hong Kong) Ltd. and Fortune (HK) Securities Ltd.
Coupon:10¾%
Call option:Make-whole call at any time at par plus an applicable premium
Equity clawback:Up to 35% at 110.75
Pricing date:Jan. 6
Settlement date:Jan. 13
Distribution:Regulation S

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