[ET Net News Agency, 9 July 2020] Kaisa Group Holdings Ltd. (01638) said the company
will issue the 2023 Notes in the aggregate principal amount of US$400 million, which will
mature on 28 September 2023. It will also issue the 2025 Notes in the aggregate principal
amount of US$300 million, which will mature on 16 April 2025.
The issue price of the 2023 Notes will be 99.266% of the principal amount of the 2023
Notes. The issue price of the 2025 Notes will be 98.994% of the principal amount of the
2025 Notes.
The 2023 Notes will bear interest from and including 16 July 2020 at a rate of 9.75% per
annum, payable semi-annually in arrears on 28 March and 28 September of each year, except
that the first payment of interest, to be made on 28 March 2021, will be in respect of the
period from and including 16 July 2020 to but excluding 28 March 2021. The 2025 Notes will
bear interest from and including 16 July 2020 at the rate of 11.25% per annum, payable
semi-annually in arrears on 16 April and 16 October of each year, except that the first
payment of interest, to be made on 16 April 2021, will be in respect of the period from
and including 16 July 2020 to but excluding 16 April 2021.
The company intends to use the net proceeds to refinance its existing medium to long
term offshore indebtedness which will become due within one year. (RC)