By Sarah Lizee
Olympia, Wash., June 1 – Mingfa Group (International) Co. Ltd. priced $176 million of 22% bonds due Dec. 5, 2020 at par on Monday, according to a notice with the Stock Exchange of Hong Kong Ltd.
Proceeds from the Regulation S bonds may be used to refinance some existing debt and for general corporate purposes.
Head & Shoulders Securities Ltd. is the placing agent.
Starting July 5, bondholders may require the company to redeem their bonds in whole or in part plus accrued interest to but excluding the redemption date.
At any time prior to the maturity date, the company and its subsidiaries may at its option purchase bonds in the open market or otherwise at any price.
Mingfa is a real estate developer based in Hong Kong.
Issuer: | Mingfa Group (International) Co. Ltd.
|
Issue: | Bonds
|
Amount: | $176 million
|
Maturity: | Dec. 5, 2020
|
Placement agent: | Head & Shoulders Securities Ltd.
|
Coupon: | 22%
|
Price: | Par
|
Yield: | 22%
|
Call: | Callable at company’s option at any time
|
Put: | Starting July 5, putable in whole or in part plus accrued interest to but excluding the redemption date
|
Change-of-control put: | At 101%
|
Pricing date: | June 1
|
Distribution: | Regulation S
|
|
© 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.