Hong Kong-listed Zhenro Properties Group Ltd. issued US$160.0 million of 8.50% senior notes due May 10, 2019, to raise funds for debt repayment and general corporate purposes.
The notes, guaranteed by certain subsidiaries of the company, were issued at a price equal to 100% of their principal amount. They were listed on the Singapore stock exchange May 14, according to a filing.
Zhenro Properties has the option to redeem up to 35% of the notes at any time, from time to time, prior to the maturation date for 108.50% of the principal amount, plus accrued and unpaid interest.
The Singapore branch of Deutsche Bank AG and Future Land Resources Securities Ltd. are the lead managers and book runners of the notes.
