SINGAPORE: China South City Holdings Limited has entered into a purchase agreement with UBS, Guotai Junan International, Haitong International, DBS Bank Ltd., HSBC, BOC International, HeungKong Financial and Admiralty Harbour in connection with the USD 200 million 11.875% Senior Notes Issue.[the_ad id=”31605″]“The net proceeds of the Notes Issue will be used by the Company primarily to refinance existing indebtedness in relation to the construction and development of our projects and for general corporate purposes. The Company may adjust the foregoing plans in response to changing market conditions, change in government policies or other factors and thus, the Company may reallocate the use of the proceeds for different uses,” a notice issued to Singapore Exchange (SGX) by China South City Holdings noted.
UBS, Guotai Junan International, Haitong International and DBS Bank Ltd. are the joint global coordinators, the joint bookrunners and the joint lead managers, and HSBC, BOC International, HeungKong Financial and Admiralty Harbour are the joint bookrunners and the joint lead managers.
Subject to certain conditions to completion, the Company will issue the Notes in the aggregate principal amount of USD200 million which will mature on March 27, 2021, unless redeemed earlier pursuant to the terms thereof.
China South City Holdings Group is a leading developer and operator of large-scale, integrated logistics and trade centers in China, based on GFA, industry coverage and range of ancillary services and facilities offered.
Leveraging the Group’s experience and brand reputation, the Group currently has eight projects in different stages of development located in regional economic hubs in Shenzhen, Nanning, Nanchang, Xi’an, Harbin, Zhengzhou, Hefei and Chongqing in China.