Hong Kong's Pacific Andes Resources cancels plans for renminbi notes

By Christine Van Dusen

Atlanta, Jan. 25 - Hong Kong's Pacific Andes Resources Development Ltd. has canceled plans for a renminbi-denominated issue of notes with a maturity of between three and five years, a market source said.

No information on the cause for the delay was available Tuesday.

Bank of America Merrill Lynch, HSBC and Standard Chartered were the bookrunners for the Regulation S deal, which was talked at a yield of between 5½% and 5¾%.

Pacific Andes Resources is a seafood company.

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