By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – China's Far East Consortium International Ltd. priced $300 million of 4˝% notes due 2023 at par to yield 4˝%, according to a term sheet.
Credit Suisse, DBS Bank Ltd., Deutsche Bank, HSBC, OCBC Bank and UBS are the joint lead managers and joint bookrunners. Credit Suisse, DBS Bank Ltd. and UBS are the global coordinators.
The Regulation S notes are being issued under the company’s $1 billion medium-term note program.
The notes will be callable at par plus accrued interest to the redemption date following any change in applicable tax laws or regulations in the Cayman Islands or Hong Kong. The notes will be putable at par plus accrued interest following a change-of-control event.
Proceeds will be used for general corporate purposes.
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.
|
| Amount: | $150 million
|
| Maturity: | May 13, 2023
|
| Description: | Notes
|
| Bookrunners: | Credit Suisse, DBS Bank Ltd., Deutsche Bank, HSBC, OCBC Bank and UBS
|
| Coupon: | 4˝%
|
| Price: | Par
|
| Yield: | 4˝%
|
| Call option: | At par plus accrued interest following any change in applicable tax laws or regulations in the Cayman Islands or Hong Kong
|
| Put option: | At par plus accrued interest following a change-of-control event
|
| Subscription date: | Nov. 6
|
| Settlement date: | Nov. 13
|
| Distribution: | Regulation S
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
