By Cady Vishniac
Detroit, Dec. 9 – NWD Finance (BVI) Ltd. priced $700 million of senior perpetual capital securities guaranteed by New World Development Co. Ltd., according to a company announcement.
The securities have an initial distribution rate of 4.8%.
It is expected they will be listed on the Stock Exchange of Hong Kong Ltd. on Thursday.
Credit Suisse, HSBC and UBS are the joint global coordinators joint bookrunners and joint lead managers on the Regulation S issue.
New World Development is a Hong Kong-based conglomerate.
| Issuer: | NWD Finance (BVI) Ltd.
|
| Guarantor: | New World Development Co. Ltd.
|
| Issue: | Senior perpetual capital securities
|
| Amount: | $700 million
|
| Maturity: | Perpetual
|
| Bookrunners: | Credit Suisse, HSBC and UBS
|
| Coupon: | 4.8% initial rate
|
| Pricing date: | Dec. 2
|
| Listing date: | Dec. 10
|
| Distribution: | Regulation S
|
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