New Issue: China’s Fosun prices $120 million tap of 5½% notes due 2023 at par

By Christine Van Dusen

Atlanta, Sept. 20 – China’s Fosun International Ltd. – via Wealth Driven Ltd. – priced a $120 million tap of its 5½% notes due Aug. 17, 2023 at par to yield 5½%, according to a company announcement.

The Regulation S notes will be consolidated with the existing $180 million notes.

The proceeds will be used to refinance some existing debt, for overseas mergers and acquisitions and for working capital and general corporate purposes.

Fosun is a Shanghai-based conglomerate.

Issuer:	Wealth Driven Ltd.
Amount:	$120 million
Maturity:	Aug. 17, 2023
Description:	Senior notes
Coupon:	5½%
Price:	Par
Yield:	5½%
Call options:	Make-whole call at Treasuries plus 100 bps until Aug. 17, 2019, then at 102.75
Equity claw:	For up to 35% at par before Aug. 17, 2019
Trade date:	Sept. 19
Distribution:	Regulation S
Existing notes:	$180 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.