By Christine Van Dusen
Atlanta, March 26 - Beijing Capital Land Ltd. sold $400 million perpetual notes at par to yield 8 3/8%, or Treasuries plus 756.7 basis points, a market source said.
HSBC and Credit Suisse were the bookrunners for the Regulation S notes, which are non-callable for five years.
The notes were issued by Central Plaza Development Ltd.
Beijing Capital Land is an integrated property owner.
| Issuer: | Central Plaza Development Ltd. (Beijing Capital Land Ltd.)
|
| Amount: | $400 million
|
| Maturity: | Perpetual
|
| Description: | Senior notes
|
| Bookrunners: | HSBC, Credit Suisse
|
| Coupon: | 8 3/8%
|
| Price: | Par
|
| Yield: | 8 3/8%
|
| Spread: | Treasuries plus 756.7 bps
|
| Call features: | Non-callable for five years
|
| Trade date: | March 26
|
| Distribution: | Regulation S
|
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