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China’s Country Garden shelves offering of dollar-denominated notes
By Christine Van Dusen
Atlanta, Nov. 17 – Country Garden Holdings Co. Ltd. has canceled plans for an offering of dollar-denominated notes (Ba1//BB+) due to market conditions, a market source said.
The notes had been talked at a yield in the 5 5/8% area.
BNP Paribas, BOC International, Goldman Sachs, HSBC and JPMorgan were the bookrunners for the Regulation S deal.
The proceeds were to be used to refinance existing debt and for general corporate purposes.
Country Garden is a Foshan, China-based real estate developer focused on large-scale residential communities.
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