By Christine Van Dusen
Atlanta, Feb. 25 - China's Far East Consortium International Ltd. sold RMB 1 billion of 5 7/8% notes due March 4, 2016 at par to yield 5 7/8%, a market source said.
The notes priced at the tight end of talk, set at 5 7/8% to 6%.
Barclays, Citic Bank International, Citic Securities, Credit Suisse, Deutsche Bank and ICBC Asia were the bookrunners for the Regulation S deal.
In November, the issuer said it had decided not to proceed with an offering of dollar-denominated bonds given market conditions.
Far East Consortium is a Hong Kong-based business conglomerate with interests in property development, hospitality and car park operations.
Issuer: | Far East Consortium International Ltd.
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Amount: | RMB 1 billion
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Maturity: | March 4, | 2016
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Description: | Notes
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Bookrunners: | Barclays, Citic Bank International, Citic Securities, Credit Suisse, Deutsche Bank, ICBC Asia
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Coupon: | 5 7/8%
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Price: | Par
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Yield: | 5 7/8%
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Trade date: | Feb. 25
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Settlement date: | March 4
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Distribution: | Regulation S
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Price talk: | 5 7/8% to 6%
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