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Sunshine 100 China plans US$165M boost to 8.50% senior notes series

Sunshine 100 China Holdings Ltd. is planning to upsize its US$235 million issuance of 8.50% senior notes due Sept. 27, 2020, by offering an additional US$165 million.

The company is expecting net proceeds of approximately US$168.1 million from the proposed offering. It said it intends to use the expected amount to repay existing debt and for general corporate purposes.

Sunshine 100 China has received in-principle approval for the listing on the Singapore stock exchange of the additional senior notes, which will be offered at a price equal to 99.983% of the principal amount.

Haitong International Securities Co. Ltd., Orient Securities (Hong Kong) Ltd., Guotai Junan Securities (Hong Kong) Ltd., China Industrial Securities International Brokerage Ltd., Yue Xiu Securities Co. Ltd. and CCB International Capital Ltd. are the joint global coordinators, joint lead managers and joint book runners for the planned offering.