By Toni Weeks
San Luis Obispo, Calif., May 14 - China's Country Garden Holdings Co. Ltd. sold a $250 million issue of 7½% senior notes due 2019 to Uniontop Enterprises Ltd. in a private placement, according to a notice.
HSBC is the arranger and settlement agent.
Proceeds will be used to refinance a portion of the company's $550 million of 11¼% senior notes due 2017 and for general corporate purposes.
Country Garden is a Foshan, China-based real estate developer focused on large-scale residential communities.
| Issue: | Senior notes
|
| Issuer: | Country Garden Holdings Co. Ltd.
|
| Amount: | $250 million
|
| Maturity: | June 5, 2019
|
| Coupon: | 7½%
|
| Arranger and agent: | HSBC
|
| Investor: | Uniontop Enterprises Ltd.
|
| Pricing date: | May 14
|
| Settlement date: | June 5
|
| Expected ratings: | Standard & Poor's: BB
|
© 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.
