Published on 10/11/2012 in the Prospect News Emerging Markets Daily.
New Issue: China's Longfor prices $400 million 6 7/8% notes due 2019 at par
By Christine Van Dusen
Atlanta, Oct. 11 - China's Longfor Properties Co. Ltd. sold $400 million of 6 7/8% notes due Oct. 18, 2019 at par to yield 6 7/8%, a market source said.
Barclays Capital, Deutsche Bank and Morgan Stanley were the bookrunners for the Regulation S notes.
The securities are callable starting Oct. 18, 2016 at 103.44.
Longfor Properties is an investment holding company based in Beijing, China.
| Issuer: | Longfor Properties Co. Ltd.
|
| Amount: | $400 million
|
| Maturity: | Oct. 18, 2019
|
| Description: | Senior notes
|
| Bookrunners: | Barclays Capital, Deutsche Bank, Morgan Stanley
|
| Coupon: | 6 7/8%
|
| Price: | Par
|
| Yield: | 6 7/8%
|
| Call features: | Callable starting Oct. 18, 2016 at 103.44
|
| Trade date: | Oct. 11
|
| Settlement date: | Oct. 18
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Distribution: | Regulation S
|
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