Mega Advance Investments has raised $1 billion in a two-part note sale, Reuters reports. The first tranche of $600 million notes, expected to mature on Dec. 5, 2021, carry a coupon rate of 5%, while the other tranche of $400 million notes, due on Dec. 5, 204, carry a coupon rate of 6.37%.
The notes are guaranteed by Beijing Enterprises Holdings, the parent of Mega Advanced. Bank of America Merrill Lynch, Credit Suisse, HSBC, Morgan Stanley and UBS were joint book-running managers for the deal.
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