By Christine Van Dusen
Atlanta, June 25 – China’s Wuzhou International Holdings Ltd. priced a $100 million add-on to its existing 13¾% notes due in September of 2018 at par to yield 13¾%, a market source said.
The additional notes will be consolidated and form a single class with the existing notes.
The company priced $100 million of the notes on Sept. 26, 2013 at 99.122 to yield 14% and $100 million more of the notes at par on Jan. 15, 2014.
Credit Suisse, Guotai Junan International and UBS were the bookrunners for the new tranche of Regulation S notes.
Proceeds will be used to repay debt and for general corporate purposes.
Wuzhou is a Hong Kong-based real estate developer.
| Issuer: | Wuzhou International Holdings Ltd.
|
| Amount: | $100 million
|
| Maturity: | September 2018
|
| Description: | Notes
|
| Bookrunners: | Credit Suisse, Guotai Junan International, UBS
|
| Coupon: | 13¾%
|
| Price: | Par
|
| Yield: | 13¾%
|
| Call option: | Non-callable until Sept. 26, 2016
|
| Trade date: | June 25
|
| Distribution: | Regulation S
|
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