China's Maoye postpones three-year renminbi benchmark notes

By Christine Van Dusen

Atlanta, March 19 - China's Maoye International Holdings Ltd. has postponed its planned offering of renminbi-denominated and benchmark-sized notes due in three years (expected ratings: Ba2/BB/), a market source said.

Talk had been set in the 7¼% area.

Citigroup and Deutsche Bank were the bookrunners for the Regulation S deal.

The proceeds were to be used to refinance existing debt and for general corporate purposes.

Maoye is a department store operator based in Shenzhen, China.

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