By Christine Van Dusen
Atlanta, May 21 - China's Fantasia Holdings Group priced RMB 1 billion three-year notes (expected ratings: B2/B+/) at par to yield 7 7/8%, a market source said.
The notes were talked at a yield in the 8% area.
BofA Merrill Lynch, Citigroup, HSBC and China Merchants Securities were the bookrunners for the Regulation S deal.
The proceeds will be used to refinance existing debt, to finance existing and new property development projects and for general corporate purposes.
Fantasia Holdings is a property development company based in Shenzhen, China.
| Issuer: | Fantasia Holdings Group
|
| Amount: | RMB 1 billion
|
| Maturity: | May 7, 2016
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup, HSBC, China Merchants Securities
|
| Coupon: | 7 7/8%
|
| Price: | Par
|
| Yield: | 7 7/8%
|
| Trade date: | May 20
|
| Settlement date: | May 27
|
| Expected ratings: | Moody's: B2
|
| Standard & Poor's: B+
|
| Distribution: | Regulation S
|
| Price talk: | 8% area
|
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