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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