Fantasia Holdings Group Co. Ltd. filed the circular for its offering of US$300.0 million in 7.25% senior notes, priced at 100% of the principal amount.
Interest, to be charged from and including Feb. 14, will be paid in arrears on Aug. 14 and the Feb. 13, 2019, maturity date. Before their due date, the notes are redeemable in whole at 100% of the principal amount and in chunks of up to 35% of the notes from time to time at 107.25%.
The group estimates to pocket net proceeds of approximately US$297.8 million from the offering, which will be used to refinance its existing debt. Fantasia may decide to reallocate funding according to changing market conditions.
The plan was announced Feb. 8 and its delivery was scheduled on or about Feb. 14. The Hong Kong-listed developer has received in-principle approval from the Singapore stock exchange and will be listing and quoting the notes on the bourse.
UBS AG Hong Kong Branch, Guotai Junan Securities (Hong Kong) Ltd. and Haitong International Securities Co. Ltd. are jointly serving as the lead managers and book runners of the issuance.