Hong Kong's Citic Resources to start roadshow for dollar-denominated seven-year notes Wednesday

By Reshmi Basu

New York, May 8 - Citic Resources Holdings Ltd. (Citic) plans to start a roadshow for a dollar-denominated offering of seven-year senior unsecured notes (Ba2) this week, according to a market source.

A roadshow is scheduled to take place in Hong Kong and Singapore on Wednesday, on the West Coast and again in Singapore on Thursday, in New York and London on Friday, and once more in New York and Boston on the following Monday.

Bear Stearns and Morgan Stanley are lead managers for the Rule 144A and Regulation S deal, which will be issued via Citic Resources Finance (2007) Ltd.

Hong Kong-listed Citic Resources is a base metals producer. The issuer has recently signed agreements to buy oil assets in Kazakhstan and northeastern China in attempts to become an oil producer as well.

Proceeds from the sale will be used to finance Citic Resources' acquisition of 50% interests of Nations Energy Co. Ltd. from its parent Citic Group and for working capital purposes.

Pricing is expected to take place next week.

© 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.