Issuer: Redco Properties Group Limited (1622.HK, the "Company") | | |
Issue: Fixed rate senior sustainability notes (the “Notes”) | | |
Subsidiary Guarantors: Certain of the Company’s Restricted Subsidiaries | | |
incorporated outside the PRC | | |
Security: Capital stock of all of the initial Subsidiary | | |
Guarantors | | |
Issuer Ratings: B Stable (S&P) / B+ Stable (Fitch) / BB- Stable | | |
(Lianhe) | | |
Expected Issue Ratings: B+ (Fitch) / BB- (Lianhe) | | |
Optional Redemption: At 101% at the option of the Issuer, following the | | |
occurrence of NDRC registration | | |
Format: Reg S only; Registered form (Category 1) | | |
Currency & Size: USD TBD | | |
Tenor: 364-day | | |
Initial Price Guidance: 10.00% Area | | |
Use of Proceeds: To refinance certain of the existing medium-to long- | | |
term offshore indebtedness which will become due within | | |
one year and in accordance with Sustainable Finance | | |
Framework | | |
Covenants: Customary high yield covenants | | |
Clearing: Euroclear/Clearstream | | |
Settlement Date: April 14, 2021 (T+5) | | |
Terms: US$200k/ US$1k denoms, SGX-ST listing, New York Law | | |
JGCs : Credit Suisse (B&D) and Standard Chartered Bank | | |
Sustainability | | |
Structuring Advisors: Credit Suisse (B&D) and Standard Chartered Bank | | |
JBRs & JLMS: Credit Suisse (B&D), Standard Chartered Bank, | | |
Barclays*, BNP PARIBAS**, Deutsche Bank, Haitong | | |
International, HeungKong Financial and UBS*** | | |