[ET Net News Agency, 6 December 2019] China South City Holdings Limited (01668) said
the company will issue senior notes in the aggregate principal amount of US$150 million,
which will mature on 12 February 2022.
The offering price of the notes will be 97.396% of the principal amount of the notes.
The notes will bear interest from and including 12 December 2019 at the rate of 11.5% per
annum, payable semi-annually in arrear, except that the first payment of interest, to be
made on 12 August 2020, will be in respect of the period from and including 12 December
2019 to but excluding 12 August 2020. Interest will be paid on 12 August and 12 February
of each year, commencing from 12 August 2020.
The net proceeds will be used by the company primarily to refinance existing
indebtedness and for general corporate purposes. (RC)