By Marisa Wong
Los Angeles, Oct. 16 – Country Garden Holdings Co. Ltd. priced $500 million of 3 1/8% senior notes due 2025 and $500 million of 3 7/8% senior notes due 2030 on Thursday, according to a company announcement.
The 2025 notes were priced at 99.904, and the 2030 notes were priced at 99.745.
Morgan Stanley & Co. International plc, UBS AG Hong Kong Branch, Goldman Sachs (Asia) LLC, BNP Paribas, Hongkong and Shanghai Banking Corp. Ltd. and J.P. Morgan Securities plc are joint global coordinators, joint lead managers and joint bookrunners for the Regulation S offering (Baa3//BBB-).
Proceeds are earmarked for refinancing existing medium- to long-term offshore debt that will become due within one year.
Country Garden is a Foshan, China, real estate developer.
| Issuer: | Country Garden Holdings Co. Ltd.
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| Issue: | Senior notes
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| Amount: | $1 billion
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| Bookrunners: | Morgan Stanley & Co. International plc, UBS AG Hong Kong Branch, Goldman Sachs (Asia) LLC, BNP Paribas, Hongkong and Shanghai Banking Corp. Ltd. and J.P. Morgan Securities plc
|
| Pricing date: | Oct. 15
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| Ratings: | Moody’s: Baa3
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| Fitch: BBB-
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| Distribution: | Regulation S
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|
|
| 2025 notes
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| Amount: | $500 million
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| Maturity: | 2025
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| Coupon: | 3 1/8%
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| Price: | 99.904
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| Call option: | In whole or in part, make-whole call at any time and par call beginning one month prior to maturity
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|
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| 2030 notes
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| Amount: | $500 million
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| Maturity: | 2030
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| Coupon: | 3 7/8%
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| Price: | 99.745
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| Call option: | In whole or in part, make-whole call at any time and par call beginning three months prior to maturity
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