China's Road King talks benchmark five-year notes to yield 9 7/8%-10%

By Paul A. Harris

Portland, Ore., Sept. 11 - China's Road King Infrastructure Ltd. talked its benchmark offering of five-year notes to yield 9 7/8% to 10%, a market source said on Tuesday.

HSBC Ltd., DBS Bank Ltd. and J.P. Morgan Securities plc are the joint lead managers and joint bookrunners.

The Regulation S notes come with three years of call protection.

Proceeds are intended for refinancing existing debt, including the company's $200 million of 7 5/8% guaranteed senior notes due 2014 issued by Road King Infrastructure Finance (2007) Ltd.

Road King is a Hong Kong-based toll road and property company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.