China's Maoye sets talk in 7¼% area for three-year renminbi notes

By Christine Van Dusen

Atlanta, March 18 - China's Maoye International Holdings Ltd. set talk in the 7¼% area for its upcoming issue of renminbi-denominated and benchmark-sized notes due in three years (expected ratings: Ba2/BB/), a market source said.

Citigroup and Deutsche Bank are the bookrunners for the Regulation S deal, which could price as soon as Tuesday.

The proceeds will be use to refinance existing debt and for general corporate purposes.

Maoye is a department store based in Shenzhen, China.

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