By William Gullotti
Buffalo, N.Y., June 9 – Vanke Real Estate (Hong Kong) Co. Ltd. priced RMB 510 million of 3.55% medium-term notes due 2025 (BBB) at par, according to a listing notice with an appended offering circular on Thursday.
The notes are a drawdown from the company’s new $9.5 billion medium-term note program launched in May.
BOCI Asia Ltd. and Industrial Bank Co., Ltd., Hong Kong Branch are the managers for the syndicated offering.
Proceeds will be used to refinance debt, according to S&P Global Ratings.
Listing for the Regulation S notes is expected on the Hong Kong Exchange effective June 9.
Vanke Real Estate is the key offshore financing subsidiary of China Vanke Co. Ltd., a Shenzhen, China-based residential real estate developer.
| Issuer: | Vanke Real Estate (Hong Kong) Co. Ltd.
|
| Amount: | RMB 510 million
|
| Issue: | Medium-term notes
|
| Maturity: | June 8, 2025
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| Managers: | BOCI Asia Ltd. and Industrial Bank Co., Ltd., Hong Kong Branch
|
| Coupon: | 3.55%
|
| Price: | Par
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| Yield: | 3.55%
|
| Pricing date: | June 1
|
| Issue date: | June 8
|
| Listing date: | June 9
|
| Rating: | S&P: BBB
|
| Distribution: | Regulation S
|
| ISIN: | HK0000854296
|
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