Published on 8/8/2017 in the Prospect News Emerging Markets Daily.
New Issue: LVGEM (China) Real Estate prices $225 million 8˝% three-year bonds
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – LVGEM (China) Real Estate Investment Co. Ltd. said it priced $225 million of 8˝% three-year guaranteed senior notes on Tuesday.
The bonds will be issued through wholly owned subsidiary Gemstones International, Ltd.
Nomura, CCB International, BOSC International, UBS, AMTD, IBC, China Galaxy International, Winsome and ABC International were the bookrunners and lead managers for the Regulation S deal. Nomura, CCB International, BOSC International, UBS and AMTD were the global coordinators
Proceeds will be used for general working capital purposes.
LVGEM is a property developer based in Hong Kong.
Issuer: | Gemstones International, Ltd.
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Issue: | Guaranteed senior notes
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Amount: | $225 million
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Maturity: | Aug. 15, 2020
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Bookrunners: | Nomura, CCB International, BOSC International, UBS, AMTD, IBC, China Galaxy International, Winsome and ABC International
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Coupon: | 8˝%
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Expected ratings: | Moody’s: B3
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| Fitch: B+
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Pricing date: | Aug. 8
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Settlement date: | Aug. 15
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