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Huijing Prices $138 Million Bond Offering as Debt Swap Deal Closes

MT Newswires ·  {{timeTz}}

02:59 AM EDT, 07/20/2021 (MT Newswires) -- Huijing Holdings (HKG:9968) priced a new debt offering wherein a portion will be swapped with its outstanding 12.50% bonds due next month, according to a late Monday disclosure.

The company will issue $138 million worth of bonds with a coupon rate of 12.50% that will mature on July 21, 2022.

Of the total, $115 million will be exchanged with the company's outstanding 12.50% bonds due next month.

The remaining $23 million will be used to refinance debts and for general corporate purposes.

The pricing of the new debts comes after Huijing closed an offer to swap its outstanding 12.50% bonds due in August with new debt securities.

The real estate developer said tenders amounted to $115 million, or 85.2% of the principal amount of the outstanding debts, when the offer to exchange the bonds expired July 16, according to a separate Monday filing.

The new bonds will be listed on the Singapore bourse.

Share traded marginally lower recently.

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