Published on 6/14/2019 in the Prospect News Emerging Markets Daily.
New Issue: China’s Gemdale prices $250 million 5.6% three-year bonds at par
By Rebecca Melvin
New York, June 14 – Gemdale Prosperity Investment Ltd. priced $250 million 5.6% three-year bonds guaranteed by Famous Commercial Ltd., according to a regulatory notice.
The notes also benefit from a keepwell deed and a deed of equity provided by Gemdale Corp.
China International Capital Corp., BOSC International, DBS Bank Ltd., Bocom International and Shanghai Pudong Development Bank Hong Kong Branch are joint bookrunners of the Regulation S deal.
Gemdale is a Shenzhen, China-based real estate developer.
Issuer: | Gemdale Prosperity Investment Ltd.
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Guarantor: | Famous Commercial Ltd.
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Description: | Senior notes
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Amount: | $250 million
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Maturity: | June 14, 2022
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Bookrunners: | China International Capital Corp., BOSC International, DBS Bank Ltd., Bocom International, Shanghai Pudong Development Bank Hong Kong Branch
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Coupon: | 5.6%
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Price: | Par
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Yield: | 5.6%
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Announcement date: | June 14
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Distribution: | Regulation S
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