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Powerlong Real Estate to boost 5.95% senior note program with US$250M issuance

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Powerlong Real Estate to boost 5.95% senior note program with US$250M issuance

Powerlong Real Estate Holdings Ltd. plans to issue US$250.0 million worth of 5.95% senior notes due July 19, 2020, that will be consolidated with a previous US$300 million issuance in the same series.

The new notes will be offered at a price equal to 94.702% of the principal amount, to yield net proceeds of approximately US$234.5 million that the diversified real estate developer intends to primarily use to refinance existing debt.

The new notes will be listed on the Singapore stock exchange.

Merrill Lynch (Asia Pacific) Ltd., Credit Suisse (Hong Kong) Ltd., Guotai Junan Securities (Hong Kong) Ltd., The Hongkong and Shanghai Banking Corp. Ltd. and UBS AG Hong Kong branch are the joint lead managers and joint book runners of the offering.