By Christine Van Dusen
Atlanta, Oct. 9 - Franshion Properties (China) Ltd. priced a $300 million five-year notes (expected ratings: Ba1/BB/BBB-) at par to yield 5 3/8%, a market source said.
The company's wholly owned subsidiary, Franshion Brilliant Ltd., was the issuer.
RBS, Deutsche Bank, HSBC, Standard Chartered Bank and Goldman Sachs were the joint lead managers for the Regulation S offering.
The proceeds will be used to refinance debt and for working capital and general corporate purposes.
Franshion is a Hong Kong-based real estate company.
| Issuer: | Franshion Brilliant Ltd.
|
| Amount: | $300 million
|
| Maturity: | Oct. 17, 2018
|
| Description: | Senior notes
|
| Bookrunners: | RBS, Deutsche Bank, HSBC, Standard Chartered Bank, Goldman Sachs
|
| Coupon: | 5 3/8%
|
| Price: | Par
|
| Yield: | 5 3/8%
|
| Trade date: | Oct. 9
|
| Settlement date: | Oct. 17
|
| Expected ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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