Central China Real Estate Ltd. plans to issue an additional US$86 million of 6.875% senior notes due Oct. 23, 2020, which will be consolidated with an earlier issuance in the series worth US$300 million.
The new notes will offered at a price equal to 99.0745% of the principal amount, plus accrued interest from and including April 23 but excluding June 5.
Net proceeds from the additional notes will be used to refinance debt and for general corporate purposes.
Credit Suisse, Haitong International and Morgan Stanley are the initial purchasers, joint book runners and joint lead managers of the additional issue.
