Hong Kong's Ocean Grand revises talk on maximum $125 million five-year bonds to 9¼%-9½%

By Reshmi Basu

New York, Nov. 29 - Ocean Grand Holdings revised price talk on a maximum $125 million offering of five-year bonds (/BB-/) to 9¼% to 9½% from initial guidance of 9% to 9¼%, according to a market source.

The issue, which will have a coupon of 9¼%, is anticipated to price Wednesday.

ABN Amro is managing the sale.

Proceeds from the sale will be kept in escrow to repay loans.

Ocean Grand is a Hong Kong-based provider of aluminum products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.