KWG Property Holding Ltd. is planning to issue US$150 million in 6.00% senior notes due 2022, which will be consolidated with its previous offerings of US$400.0 million and US$100.0 million in the same series.
Net proceeds from the new issuance, which will mature Sept. 15, 2022, will be used by the company to refinance certain debt. KWG Property indicated that it may redirect the fund to other uses depending on market conditions.
According to a filing, the additional notes will be offered at a price equal to 100.25% of the principal amount, with its terms to be largely similar to the terms of the previous offerings of 6.00% senior notes done March 15 and March 29, respectively.
Morgan Stanley & Co. International Plc is the sole book runner and sole lead manager of the proposed offering.
