By Marisa Wong
Los Angeles, Dec. 5 – China South City Holdings Ltd. said it priced $150 million of 11½% senior notes due Feb. 12, 2022 (expected: //B) at 97.396 on Thursday.
UBS, Guotai Junan International, Haitong International, Barclays, BOC International, CMB International and HeungKong Financial are joint bookrunners and joint lead managers for the Regulation S transaction, according to a company announcement.
UBS, Guotai Junan International, Haitong International and Barclays are the joint global coordinators.
Proceeds will be used to refinance 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.
|
| Issue: | Senior notes
|
| Amount: | $150 million
|
| Maturity: | Feb. 12, 2022
|
| Bookrunners: | UBS, Guotai Junan International, Haitong International, Barclays, BOC International, CMB International and HeungKong Financial
|
| Coupon: | 11½%
|
| Price: | 97.396
|
| Call option: | In whole at any time at par plus an applicable premium
|
| Equity clawback: | Up to 35% at 111.5
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 12
|
| Expected rating: | Fitch: B
|
| Distribution: | Regulation S
|
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