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Published on 11/6/2012 in the Prospect News Emerging Markets Daily.

New Issue: China SCE Property prices $200 million 11½% notes due 2017 at par

By Christine Van Dusen

Atlanta, Nov. 6 - China SCE Property Holdings Ltd. priced $200 million five-year notes (B2/B/) at par to yield 11½%, a market source said.

The notes were talked at the 11¾% area.

Deutsche Bank and HSBC were the bookrunners for the Regulation S notes, which are non-callable for three years.

Proceeds will be used to finance new and existing projects and for general corporate purposes.

China SCE Property is a property developer based in Xiamen, Fujian, China.

Issuer:China SCE Property Holdings Ltd.
Amount:$200 million
Maturity:Nov. 14, 2017
Description:Senior notes
Bookrunners:Deutsche Bank, HSBC
Coupon:11½%
Price:Par
Yield:11½%
Call features:Non-callable for three years
Trade date:Nov. 6
Settlement date:Nov. 14
Ratings:Moody's: B2
Standard & Poor's: B
Distribution:Regulation S
Price talk:11¾%

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