Published on 4/23/2012 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: China's Shanshui Cement sells $400 million 10½% notes due 2017 at par
By Aleesia Forni
Columbus, Ohio, April 23 - China Shanshui Cement Group Ltd. priced $400 million 10½% notes due 2017 at par, according to a syndicate source.
The notes (/BB-/BB-) priced on top of talk, which was tightened from initial guidance of 10½% to 10¾%.
Credit Suisse, Deutsche Bank, HSBC and JPMorgan were the bookrunners.
Proceeds from the Rule 144A and Regulation S deal will be used to refinance a portion of the company's existing borrowings.
| Issuer: | China Shanshui Cement Group Ltd.
|
| Issue: | Senior notes
|
| Amount: | $400 million
|
| Maturity: | April 27, 2017
|
| Bookrunners: | Credit Suisse, Deutsche Bank, HSBC, JPMorgan
|
| Coupon: | 10½%
|
| Price: | Par
|
| Yield: | 10½%
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | April 20
|
| Settlement date: | April 27
|
| Ratings: | Standard & Poor's: BB-
|
| Fitch: BB-
|
| Price talk: | 10½%, tightened from 10½% to 10¾%
|
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