By Taylor Fox
New York, Jan. 6 – Country Garden Holdings Co. Ltd. priced $500 million of 2.7% senior notes due 2026 and $700 million of 3.3% senior notes due 2031, according to a company announcement.
The 2026 notes were priced at 99.944, and the 2031 notes were priced at 99.645.
Morgan Stanley, UBS, HSBC, BNP Paribas and J.P. Morgan Securities plc are joint global coordinators, joint lead managers and joint bookrunners for the Regulation S offering.
Proceeds are expected to be used for refinancing existing medium to long term offshore indebtedness, which will become due within one year.
Country Garden is a Foshan, China, real estate developer.
| Issuer: | Country Garden Holdings Co. Ltd.
|
| Issue: | Senior notes
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| Amount: | $1.2 billion
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| Bookrunners: | Morgan Stanley, UBS, HSBC, BNP Paribas and J.P. Morgan Securities plc
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| Pricing date: | Jan. 5
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| Distribution: | Regulation S
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|
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| 2026 notes
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| Amount: | $500 million
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| Maturity: | 2026
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| Coupon: | 2.7%
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| Price: | 99.944
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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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| 2031 notes
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| Amount: | $700 million
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| Maturity: | 2031
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| Coupon: | 3.3%
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| Price: | 99.645
|
| Call option: | In whole or in part, make-whole call at any time and par call beginning one months prior to maturity
|
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