By Christine Van Dusen
Atlanta, Oct. 14 - Hong Kong's Central China Real Estate priced $300 million five-year notes (B1/B+/) at par to yield 12¼%, a market source said.
Deutsche Bank, ING and Nomura were the bookrunners for the Rule 144A and Regulation S deal, which is non-callable for three years.
Proceeds will be used for general corporate purposes and to fund new property projects, including construction costs and land premium.
Central China Real Estate is a development company.
| Issuer: | Central China Real Estate
|
| Amount: | $300 million
|
| Maturity: | Oct. 20, 2015
|
| Description: | Senior notes
|
| Bookrunners: | Deutsche Bank, ING, Nomura
|
| Coupon: | 12¼%
|
| Price: | Par
|
| Yield: | 12¼%
|
| Call features: | Non-callable for three years
|
| Trade date: | Oct. 13
|
| Settlement date: | Oct. 20
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B+
|
| Distribution: | Rule 144A and Regulation S
|
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