New Issue: China’s CIFI Holdings prices $400 million 6% five-year notes at par

By Wendy Van Sickle

Columbus, Ohio, Jan. 7 – CIFI Holdings (Group) Co. Ltd. priced $400 million of 6% five-year senior notes (BB-/BB) at par on Tuesday, according to a company announcement.

HSBC, Barclays, Bocom International, BOSC International, China Citic Bank International, Credit Suisse, Goldman Sachs (Asia) LLC, Haitong International, JPMorgan and Standard Chartered Bank are the global coordinators, bookrunners and lead managers for the Regulation S offering.

The company plans to use the proceeds to refinance debt.

CIFI is a property development, investment and management business based in Shanghai.

Issuer:	CIFI Holdings (Group) Co. Ltd.
Issue:	Senior notes
Amount:	$400 million
Maturity:	Jan. 7, 2025
Bookrunners:	HSBC, Barclays, Bocom International, BOSC International, China Citic Bank International, Credit Suisse, Goldman Sachs (Asia) LLC, Haitong International, JPMorgan and Standard Chartered Bank
Coupon:	6%
Price:	Par
Yield:	6%
Call:	Callable at 103 starting Jan. 16, 2023, at 101 starting Jan. 16, 2024 and at par starting Jan. 16, 2025
Equity clawback:	For up to 35% at 106 prior to Jan. 16, 2023
Pricing date:	Jan. 7
Settlement date:	Jan. 16
Ratings:	S&P: BB-
	Fitch: BB
Distribution:	Regulation S

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