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CSHF (0412) subscribes US$125m of notes issued by a lender
Company announcement, 2-Dec-2019
This is an indirect loan. The owner of the Issuer isn't disclosed. We can reveal that the Borrower is a subsidiary of Kaisa (1638), which recently issued 4-year notes at 11.95% p.a., but CSHF is only getting 7.5% from the Issuer - so how much is the Issuer taking as a spread, and why? Who owns it? What collateral, if any, is the Borrower offering? The issue arranger is a subsidiary of Bank of Communications (3328).
- Bank of Communications Co., Ltd.
- BOCOM International Asset Management Limited
- China Shandong Hi-Speed Financial Group Limited
- Grand Sail Developments Limited
- Kaisa Group Holdings Ltd.