New Issue: China's Country Garden prices $750 million 7¼% notes due 2021 at par

New York, Sept. 25 - Country Garden Holdings Co. Ltd. priced $750 million of 7¼% senior notes (Ba2/BB-) due April 4, 2021 at par, according to a company announcement.

The 7.5-year deal came to market much tighter than talk which had been set at 7¾%.

Goldman Sachs (Asia) LLC and J.P. Morgan Securities plc were global coordinators and together with BOCI Asia Ltd., HSBC and ICBC International Capital Ltd. were joint bookrunners and lead managers.

Proceeds from the note sale will be used to fund existing and new real estate projects and for general corporate purposes.

Country Garden is a Foshan, China-based real estate developer focused on large-scale residential communities.

Issuer:	Country Garden Holdings Co. Ltd.
Issue:	Senior notes
Amount:	$750 million
Maturity:	April 4, 2021
Coupon:	7¼%
Price:	Par
Yield:	7¼%
Call:	Make-whole call until Oct. 4, 2017, then at 103.625, 101.8125, declining to par on Oct. 4, 2019
Equity claw:	For up to 35% at 107.25 until Oct. 4, 2016
Pricing date:	Sept. 25
Settlement:	Oct. 4
Ratings:	Moody's Investors Service: Ba2
	Standard & Poor's: BB-
Bookrunners:	Goldman Sachs (Asia) LLC, J.P. Morgan Securities plc (global coordinators), BOCI Asia Ltd., HSBC, ICBC International Capital Ltd.

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