By Rebecca Melvin
New York, March 17 – China South City Holdings Ltd. priced a $50 million add-on to its 11.95% senior notes due Feb. 9, 2023 on Wednesday, according to a company announcement.
The notes will be consolidated to form one series with $175 million of notes priced on March 2.
CCB International is bookrunner and lead manager of the issue, for which proceeds are earmarked for refinancing existing debt and for general corporate purposes.
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.
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| Issue: | Add-on to senior notes
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| Amount: | $50 million
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| Maturity: | Feb. 9, 2023
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| Bookrunner: | CCB International
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| Coupon: | 11.95%
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| Call option: | In whole at any time at par plus an applicable premium
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| Equity clawback: | For up to 35% of notes at 111.95
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Distribution: | Regulation S
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| Total deal size: | $225 million, including $175 million priced March 2
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