Fantasia informed stock exchange of Hong Kong this morning that on January 15, 2013, the Company and the Subsidiary Guarantors entered into the Purchase Agreement with BofA Merrill Lynch and Citi in connection with the issue of US$250 million 10.75% senior notes due 2020.
“The company intends to use the net proceeds to refinance its existing indebtedness, to finance its existing and new property development projects (including land premium and construction costs), and for other general corporate purposes,” Fantasia said.
The Notes will bear interest from and including January 22, 2013 at the rate of 10.75% per annum, payable semi-annually in arrears. Interest will be paid on January 22 and July 22 of each year, commencing on July 22, 2013.
Fantasia currently focuses its real estate activities in, four of the fastest-growing economic regions in China, including the Chengdu-Chongqing Economic Zone, the Pearl River Delta region, the Yangtze River Delta region and the Beijing-Tianjin metropolitan region. (Indonesia Today)