Published on 11/14/2018 in the Prospect News Emerging Markets Daily.
New Issue: China’s KWG Group prices $400 million 9.85% notes due 2020 at par
New York, Nov. 14 – KWG Group Holdings Ltd. priced $400 million of dollar-denominated guaranteed senior notes due 2020 with a coupon of 9.85% at par, according to an announcement.
Goldman Sachs (Asia) LLC, Guotai Junan International, HSBC, Morgan Stanley, Silk Road International and Standard Chartered Bank are the bookrunners for the Regulation S offering, according to a notice.
Proceeds will be used to refinance offshore debt.
KWG Group is a developer based in Guangzhou, China.
Issuer: | KWG Group Holdings Ltd.
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Issue: | Senior notes
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Amount: | $400 million
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Maturity: | Nov. 26, 2020
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Coupon: | 9.85%
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Price: | Par
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Call: | Make-whole call at any time
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Equity clawback: | For up to 35% at 109.85
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Rating: | Fitch: BB-
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Bookrunners: | Goldman Sachs (Asia) LLC, Guotai Junan International, HSBC, Morgan Stanley, Silk Road International and Standard Chartered Bank
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Pricing date: | Nov. 14
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Distribution: | Regulation S
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