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China Logistics to net US$103M from add-on to 8% senior notes

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China Logistics to net US$103M from add-on to 8% senior notes

China Logistics Property Holdings Co. Ltd. is expecting roughly US$103.1 million in gross proceeds from its proposed additional issuance of US$100 million in 8% senior notes due Aug. 8, 2020.

The new notes will be consolidated with the US$200.0 million of the same notes series that China Logistics issued in August and September each in respective aggregate amounts of US$100.0 million.

According to the company, the expected proceeds from the offering will be reserved for offshore debt repayment and for general corporate purposes.

Haitong International Securities Co. Ltd. and CCB International Capital Ltd. are the joint global coordinators, joint book runners and joint lead managers of the additional notes offering.