Published on 9/28/2016 in the Prospect News Emerging Markets Daily.
New Issue: China’s Fantasia prices $400 million 7 3/8% notes due 2021 at par
By Christine Van Dusen
Atlanta, Sept. 28 – China’s Fantasia Holdings Group Co. Ltd. priced $400 million five-year notes (B3/B) at par to yield 7 3/8% on Tuesday, according to a company filing.
Guotai Junan International, ABC International, BofA Merrill Lynch and Citic CLSA Securities were the bookrunners for the Regulation S deal.
The proceeds will be used to refinance debt.
Fantasia Holdings is a property development company based in Shenzhen, China.
Issuer: | Fantasia Holdings Group Co. Ltd.
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Amount: | $400 million
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Maturity: | Oct. 4, 2021
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Description: | Senior notes
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Bookrunners: | Guotai Junan International, ABC International, BofA Merrill Lynch, Citic CLSA Securities
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Coupon: | 7 3/8%
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Price: | Par
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Yield: | 7 3/8%
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Call options: | Make-whole call until Oct. 4, 2019, then at 103.688, declining to 101.844 in 2020
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Equity clawback: | For up to 35% at 107.375 until Oct. 4, 2019
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Trade date: | Sept. 27
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Settlement date: | Oct. 4
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Ratings: | Moody's: B3
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| S&P: B
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Distribution: | Regulation S
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