New Issue: China SCE Property prices $600 million notes due 2021 at par to yield 7.45%

By Wendy Van Sickle

Columbus, Ohio, April 10 – China SCE Property Holdings Ltd. priced $600 million of 7.45% senior notes due 2021 at par on Tuesday, according to a notice.

Deutsche Bank, Morgan Stanley, China CITIC Bank International, CLSA, Guotai Junan International, Haitong International, HSBC and VTB Capital will be the joint lead managers and joint bookrunners for the Regulation S deal. Deutsche Bank and Morgan Stanley are also the global coordinators.

Proceeds will be used to refinance existing debt and for working capital purposes.

China SCE Property is a property developer based in Xiamen, China.

Issuer:	China SCE Property Holdings Ltd.
Amount:	$600 million
Maturity:	April 17, 2021
Description:	Senior notes
Bookrunners:	Deutsche Bank and Morgan Stanley (global coordinators), China CITIC Bank International, CLSA, Guotai Junan International, Haitong International, HSBC and VTB Capital
Coupon:	7.45%
Price:	Par
Yield:	7.45%
Call option:	Make-whole redemption until April 17, 2020, at 103.725 on or after April 17, 2020; up to 35% principal amount may be redeemed at 107.45 prior to April 17, 2020 with net cash proceeds of stock sales
Trade date:	April 10
Distribution:	Regulation S

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