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Beijing State-Owned Assets Management sets talk for dollar notes due in five, 10 years
By Christine Van Dusen
Atlanta, May 18 – China-based Beijing State-Owned Assets Management Co. Ltd. set talk for a two-tranche offering of dollar-denominated notes due in five and 10 years (expected ratings: A3/A-/A-), a market source said.
The five-year notes were talked at a spread of Treasuries plus 160 basis points to 165 bps.
The 10-year notes were talked at a spread of Treasuries plus 205 bps to 210 bps.
Citigroup and UBS are the bookrunners for the Regulation S deal, which could price as soon as Monday.
The proceeds will be used to refinance debt, for working capital and for general corporate purposes.
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