By Aleesia Forni
Virginia Beach, April 10 - China's LP Finance Ltd. priced $500 million of 4.45% senior notes due 2021 with a spread of Treasuries plus 235 basis points, according to an informed source.
The notes sold at the tight end of talk, which was set in the area of Treasuries plus 240 bps.
Pricing was at 99.04.
The notes, guaranteed by Hang Lunch Properties Ltd., are part of a $3 billion medium-term note program.
HSBC and JPMorgan were the bookrunners for the Regulation S deal.
Hang Lung is a Hong Kong-based real estate company.
| Issuer: | LP Finance Ltd.
|
| Guarantor: | Hang Lung Properties Ltd.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | April 16, 2021
|
| Bookrunners: | HSBC, JPMorgan
|
| Coupon: | 4.45%
|
| Price: | 99.04
|
| Spread: | Treasuries plus 235 bps
|
| Trade date: | April 9
|
| Price talk: | Treasuries plus 240 bps area
|
| Distribution: | Regulation S
|
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