By Christine Van Dusen
Atlanta, Jan. 22 - China SCE Property Holding Ltd. priced a $150 million add-on to its 11½% notes due Nov. 14, 2017 (B2/B/) at 108, according to a company filing.
Deutsche Bank, HSBC and ICBC International Securities Ltd. were the bookrunners for the Regulation S notes, which are non-callable for three years.
The original $200 million issue priced in November at par to yield 11½%.
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, China.
| Issuer: | China SCE Property Holding Ltd.
|
| Amount: | $150 million
|
| Maturity: | Nov. 14, 2017
|
| Description: | Senior notes
|
| Bookrunners: | Deutsche Bank, HSBC, ICBC International Securities Ltd.
|
| Coupon: | 11½%
|
| Price: | 108
|
| Call features: | Non-callable for three years
|
| Trade date: | Jan. 21
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Distribution: | Regulation S
|
| Original issue: | $200 million priced at par in November 2012
|
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