Published on 3/22/2011 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Singapore's Yanlord Land prices $400 million notes due 2018 at par to yield 10 5/8%
By Christine Van Dusen
Atlanta, March 22 - Singapore's Yanlord Land Group Ltd. sold $400 million notes (Ba2/BB/) due March 29, 2018 at par to yield 10 5/8%, a market source said.
HSBC, JPMorgan and RBS were the bookrunners for the Rule 144A and Regulation S notes, which are non-callable for four years.
Yanlord Land is a Singapore-based property developer.
| Issuer: | Yanlord Land Group Ltd.
|
| Amount: | $400 million
|
| Maturity: | March 29, 2018
|
| Description: | Notes
|
| Bookrunners: | HSBC, JPMorgan, RBS
|
| Coupon: | 10 5/8%
|
| Price: | Par
|
| Yield: | 10 5/8%
|
| Call features: | Non-callable for four years
|
| Trade date: | March 22
|
| Settlement date: | March 29
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB
|
| Distribution: | Rule 144A and Regulation S
|
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