Published on 3/23/2015 in the Prospect News Emerging Markets Daily.
New Issue: Singapore’s BOC Aviation prices $750 million 3% notes due 2020 at 170 bps spread
By Christine Van Dusen
Atlanta, March 23 – Singapore’s BOC Aviation Pte. Ltd. priced $750 million 3% five-year notes (/A-/A-) at 99.458 to yield 3.118%, or Treasuries plus 170 basis points, a market source said.
The notes were talked at a spread in the 190 bps area.
BOC International, Citigroup, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S offering.
The aircraft leasing company is wholly owned by Bank of China.
| Issuer: | BOC Aviation Pte. Ltd.
|
| Amount: | $750 million
|
| Maturity: | March 30, 2020
|
| Description: | Senior notes
|
| Bookrunners: | BOC International, Citigroup, HSBC, JPMorgan
|
| Coupon: | 3%
|
| Price: | 99.458
|
| Yield: | 3.118%
|
| Spread: | Treasuries plus 170 bps
|
| Trade date: | March 23
|
| Settlement date: | March 30
|
| Ratings: | Standard & Poor’s: A-
|
| Fitch: A-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 190 bps area
|
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