Fosun to Raise $400 Million in Bonds Offering

Fosun has priced its 5-year bonds with a coupon rate of 5.95%.
Benjamin WangOct 16,2020,21:58

Fosun International Ltd. (HKEX: 00656) has priced its $400 million 5-year senior unsecured notes with a coupon rate of 5.95%.

Based in Shanghai, the high-quality products and service provider said in today’s announcement that it has a tender offer targeting its existing $410 million 6.875% senior notes due in January 2021.

176 investors were reported by Fosun to participate in the transaction. After final price guidance was released, the oversubscription rate reached about 5.8 times, Fosun added.

Last month, Fosun announced a deal to acquire Tom Tailor GmbH, a German vertically integrated lifestyle clothing company headquartered in Hamburg.

Xiaoliang Xu, the co-chief executive officer of Fosun said, “Fosun is committed to making long-term strategic investments in companies that offer high-quality products and services to families around the world.”

Shares of Fosun closed at HK$9.16 in Hong Kong Friday.

Topics:Fosun; Hong Kong; Clothing