New Issue: China Vanke sells $800 million 2 5/8% five-year notes at Treasuries plus 199 bps

By Christine Van Dusen

Atlanta, March 7 - China Vanke Co. priced an $800 million issue of 2 5/8% five-year notes (Baa2/BBB+/BBB+) at 99.397 to yield 2.755%, or Treasuries plus 199 basis points, a market source said.

The notes were talked at a spread in the 200 bps area.

HSBC and Deutsche Bank were the active leads. Bank of China, DBS, UBS and JPMorgan were also joint bookrunners.

China Vanke is a real estate developer based in Shenzhen, China.

Issuer:	China Vanke Co.
Amount:	$800 million
Maturity:	March 13, 2018
Description:	Notes
Bookrunners:	HSBC, Deutsche Bank (active leads); Bank of China, DBS, UBS, JPMorgan
Coupon:	2 5/8%
Price:	99.397
Yield:	2.755%
Spread:	Treasuries plus 199 bps
Trade date:	March 7
Settlement date:	March 13
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB+
	Fitch: BBB+
Distribution:	Regulation S
Price talk:	Treasuries plus 200 bps area

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