China SCE Group Holdings Ltd. priced an offering of US$500.0 million of 8.75% senior notes due Jan. 15, 2021, at 100% of the notes' principal amount.
Interest on the notes will be payable semiannually in arrears on Jan. 15 and July 15 of each year, starting July 15.
The Chinese real estate developer plans to use the net proceeds mainly to refinance certain of its existing offshore debt.
The Hongkong and Shanghai Banking Corp. Ltd., UBS AG Hong Kong Branch, China CITIC Bank International Ltd., Guotai Junan (Securities) Hong Kong Ltd. and Haitong International Securities Co. Ltd. serve as joint book runners and joint lead managers for the offering.
DB Trustees (Hong Kong) Ltd. is the trustee.