By Wendy Van Sickle
Columbus, Ohio, July 24 – Sino-Ocean Land Treasure IV Ltd., a subsidiary of Sino-Ocean Land Holdings Ltd., priced $700 million of three-year floating-rate guaranteed notes at par on Tuesday, according to a notice.
The notes will bear interest at Libor plus 230 basis points.
China Citic Bank International Ltd., Goldman Sachs (Asia) LLC, the Hongkong and Shanghai Banking Corp. Ltd., Shanghai Pudong Development Bank, Hong Kong Branch and Industrial Bank Co., Ltd., Hong Kong Branch were joint lead managers of the offering.
Proceeds of the Regulation S deal will be used mainly to repay existing debt.
Sino-Ocean Land is a Beijing-based property developer.
| Issuer: | Sino-Ocean Land Treasure IV Ltd.
|
| Guarantor: | Sino-Ocean Land Holdings Ltd.
|
| Amount: | $700 million
|
| Description: | Guaranteed floating-rate notes
|
| Maturity: | July 31, 2021
|
| Lead managers: | China Citic Bank International Ltd., Goldman Sachs (Asia) LLC, the Hongkong and Shanghai Banking Corp. Ltd., Shanghai Pudong Development Bank Hong Kong Branch and Industrial Bank Co., Ltd., Hong Kong Branch
|
| Price: | Par
|
| Coupon rate: | Libor plus 230 bps
|
| Trade date: | July 24
|
| Settlement date: | July 31
|
| Distribution: | Regulation S
|
|
|
© 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.
