By Christine Van Dusen
Atlanta, Feb. 18 - China's LDK Solar Co. Ltd. priced RMB 1.2 billion notes due Feb. 28, 2014 at par to yield 10%, a market source said.
Morgan Stanley and Citigroup were the bookrunners for the Regulation S-only deal.
The notes are payable in dollars.
Proceeds will be used to repay existing debt.
LDK Solar is a solar wafer producer based in Xinyu City, China.
| Issuer: | LDK Solar Co. Ltd.
|
| Amount: | RMB 1.2 billion
|
| Maturity: | Feb. 28, 2014
|
| Description: | Senior notes
|
| Bookrunners: | Morgan Stanley, Citigroup
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Trade date: | Feb. 18
|
| Settlement date: | Feb. 28
|
| Distribution: | Regulation S only
|
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