Guangzhou R&F Properties Co. Ltd.'s unit plans to issue US$460.0 million of 5.75% senior notes due Jan. 13, 2022.
Easy Tactic Ltd. will consolidate the bonds to form a single series with its previous issuance of US$265.0 million of senior notes with the same coupon rate and maturity date. It priced the latest issuance at 99.146% of the principal amount, plus accrued interest from Jan. 13 up to, but excluding, Jan. 20.
The Singapore Exchange Securities Trading Ltd. granted an approval in-principle for the listing and quotation of the bonds on the Singaporean bourse.
Guangzhou R&F said that estimated net proceeds from the issuance will amount to about US$449.7 million, which will be used to fund its offshore projects under China's One Belt One Road strategy and for general corporate purposes.
Goldman Sachs (Asia) LLC, China Merchants Securities (HK) Co. Ltd., Deutsche Bank AG Hong Kong Branch, Haitong International Securities Co. Ltd., AMTD Asset Management Ltd., Citigroup Global Markets Ltd., Morgan Stanley & Co. International plc and UBS AG Hong Kong Branch are jointly the book runners and lead managers of the issuance.