New York, Feb. 22 - Shui On Development (Holding) Ltd. priced a $75 million add on to its non-rated three-year notes at par on Wednesday, according to a company announcement.
BNP Paribas, Deutsche Bank, Standard Chartered Bank and UBS were the bookrunners.
Shui On Development's parent company, Shui On Land Ltd., is a Shanghai-based property developer. Proceeds from the add on will be used to fund capital expenditures related to its real estate operations and to acquire, develop or construct assets or to repay debt.
Shui On originally priced $400 million of the notes on Feb. 9. They also priced at par via the same bookrunners as the add on.
| Issuer: | Shui On Development (Holding) Ltd.
|
| Guarantor: | Shui On Land Ltd.
|
| Amount: | $400 million
|
| Maturity: | Feb. 16, 2015
|
| Securities: | Senior notes
|
| Bookrunners: | BNP Paribas, Deutsche Bank, Standard Chartered Bank, UBS
|
| Coupon: | 9¾%
|
| Price: | Par
|
| Call option: | At par plus applicable premium at any time
|
| Change-of-control put: | 101%
|
| Trade date: | Feb. 22
|
| Rating: | Non-rated
|
| Distribution: | Regulation S
|
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