Hengdeli has appointed Deutsche Bank, Standard Chartered Bank, and JPMorgan as the joint global coordinators. HSBC also joined as joint lead manager.
“The company intends to use the net proceeds of the Notes to redeem its outstanding 205 Convertible Bonds, refinance its other debt obligations and for general corporate purposes,” Hengdeli said in a disclosure to the stock exchange of Hong Kong this morning.
As of June 2012, Hengdeli’s total bank loans and convertible bonds amounted to RMB5,298.9 million (US$834. million)
The group has an extensive network of branded retail stores across the PRC, Hong Kong, Macau and Taiwan and a wholesale network covering the PRC. Its product portfolio consisted of over 50 internationally renowned mid- to high-end brands from these five major brand suppliers and other independent watchmakers, including brands such as Cartier, Vacheron Constantin, Jaeger-LeCoultre, etc. (Indonesia Today)