China Aoyuan Property Group Ltd. is planning an issuance of US$225.0 million in 7.5% senior notes due 2021 to boost its previous offering of US$200.0 million in the same notes series.
The new notes, set to mature May 10, 2021, will be offered at a price equal to 98.092% of the principal amount, including interest.
From the offering, the Hong Kong-listed company expects net proceeds of about US$216.9 million and China Aoyuan will use the amount to refinance its existing debt and for general working capital.
CEB International Capital Corp. Ltd., CMB International, China CITIC Bank International Ltd., Deutsche Bank AG, Essence International, J.P. Morgan, OCBC Bank, Orient Securities (Hong Kong) and UBS are the joint lead managers and joint book runners of the planned issuance.
