By Wendy Van Sickle
Columbus, Ohio, Nov. 4 – Shui On Land Ltd. priced $300 million 5¾% notes due Nov. 28, 2023 at par on Monday, according to a company filing.
The notes are being issued by subsidiary Shui On Development (Holding) Ltd. and guaranteed by the company.
Standard Chartered Bank and UBS AG Hong Kong Branch are the global coordinators, initial purchasers, joint bookrunners and joint lead managers, with UBS acting as green adviser.
Proceeds from the Regulation S offering will be used to fund or refinance green projects.
Shui On Land is a Hong Kong-based property development company.
| Issuer: | Shui On Development (Holding) Ltd.
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| Guarantor: | Shui On Land Ltd.
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| Amount: | $300 million
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| Maturity: | Nov. 12, 2023
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| Description: | Green bonds
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| Bookrunners: | Standard Chartered Bank and UBS AG Hong Kong Branch
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| Coupon: | 5¾%
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| Price: | Par
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| Yield: | 5¾%
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| Call: | Make-whole call for first two years
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| Equity clawback: | 35% at 105.75
|
| Trade date: | Nov. 4
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| Settlement date: | Nov. 12
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| Distribution: | Regulation S
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