By Rebecca Melvin
New York, Aug. 26 – Road King Infrastructure Ltd. priced $300 million of 6% guaranteed senior notes due 2025 at par, according to a company announcement on Wednesday.
The securities were sold through subsidiary RKPF Overseas 2019 (A) Ltd. and are guaranteed by the parent company.
China Citic Bank International Ltd., Credit Suisse (Hong Kong) Ltd., DBS Bank Ltd., HSBC, J.P. Morgan Securities plc, Standard Chartered Bank and UBS AG Hong Kong Branch are joint bookrunners and joint lead managers for the Regulation S offering.
The notes will be callable at par plus accrued interest on any semiannual distribution payment date after three years. Starting Sept. 4, 2023, the notes will be callable at 103 for one year and 101.5 onwards.
Proceeds will be used for refinancing and for general corporate purposes, including payments relating to its exchange and tender offer for $400 million 7¾% senior notes due 2021.
Road King is a Hong Kong-based toll road and property company.
| Issuer: | RKPF Overseas 2019 (A) Ltd.
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| Guarantor: | Road King Infrastructure Ltd.
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| Issue: | Guaranteed senior notes
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| Amount: | $300 million
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| Maturity: | Sept. 4, 2025
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| Bookrunners: | China Citic Bank International Ltd., Credit Suisse (Hong Kong) Ltd., DBS Bank Ltd., HSBC, J.P. Morgan Securities plc, Standard Chartered Bank and UBS AG Hong Kong Branch
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| Coupon: | 6%
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| Price: | Par
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| Yield: | 6%
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| Call options: | At par plus accrued interest on any semiannual distribution payment date after three years; starting Sept. 4, 2023, at 103 for one year and 101.5 onwards
|
| Announcement date: | Aug. 26
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| Settlement date: | Sept. 4
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| Distribution: | Regulation S
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