By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – Shui On Land Ltd. – through Shui On Development (Holding) Ltd. – printed RMB 1.6 billion three-year notes at par to yield 6 7/8%, a market source said.
Standard Chartered Bank and China Citic Bank International were the bookrunners for the Regulation S deal.
The notes are guaranteed by Shui On Land.
The proceeds will be used to repay debt and to fund capital expenditures.
Shui On Land is a Shanghai-based property developer.
| Issuer: | Shui On Development (Holding) Ltd.
|
| Guarantor: | Shui On Land Ltd.
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| Amount: | RMB 1.6 billion
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| Maturity: | March 2, 2021
|
| Description: | Senior notes
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| Bookrunners: | Standard Chartered Bank and China Citic Bank International
|
| Coupon: | 6 7/8%
|
| Price: | Par
|
| Yield: | 6 7/8%
|
| Trade date: | Feb. 26
|
| Settlement date: | March 2
|
| Distribution: | Regulation S
|
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