Sunac China plans $1.1B senior notes issuance

Sunac China Holdings Ltd. intends to issue $1.1 billion of senior notes that will be listed on the Singapore stock exchange.

The offering comprises $600 million of 5.95% senior notes due April 26, 2024, and $500 million of 6.50% senior notes that will mature Jan. 26, 2026.

Proceeds from the offering will be used to refinance the group's mid- and long-term offshore debt that will mature within a year.

The 2024 notes are being offered at a price equivalent to 99.968% of its principal amount, while the 2026 notes are being issued at a price equal to 100% of its principal amount, according to a Jan. 22 filing.

The Hongkong and Shanghai Banking Corp. Ltd., Morgan Stanley & Co. International PLC, Barclays Bank PLC, China CITIC Bank International Ltd., China Securities (International) Corporate Finance Co. Ltd., Citigroup Global Markets Ltd., Credit Suisse (Hong Kong) Ltd. and Guotai Junan Securities (Hong Kong) Ltd. are the joint global coordinators and joint bookrunners for the offering.