Ronshine China plans tap of dollar-denominated 8¼% notes due 2021

By Rebecca Melvin

New York, Feb. 12 – Ronshine China Holdings Ltd. plans to tap its recently priced 8¼% senior notes due 2021, subject to market conditions, according to a company announcement on Monday.

The original $325 million of 8¼% notes (ratings: //B+) priced Jan. 25 at a reoffered 98.066 to yield 9%.

Guotai Junan International, Haitong International, Oriental Securities (Hong Kong), Dongxing Securities (Hong Kong), VTB Capital and China Industrial Securities International, together with the company and subsidiary guarantors will enter into a purchase agreement upon setting terms for the additional Regulation S notes.

Proceeds will be used to refinance certain of its existing debt.

Ronshine is a property developer based in Fuzhou, China.

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