By Marisa Wong
Madison, Wis., May 26 - Pacific Andes Resources Development Ltd. said it issued RMB 600 million of 6½% bonds due June 2, 2014 at par.
The bonds settle on June 2.
Interest is payable semiannually.
DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank (Hong Kong) Ltd. were the joint lead managers and joint bookrunners.
Proceeds will be used for general corporate purposes, to fund capital expenditures, for acquisitions and investments and to refinance a portion of existing debt.
Pacific Andes Resources is a Hong Kong-based seafood company.
| Issuer: | Pacific Andes Resources Development Ltd.
|
| Issue: | Fixed-rate bonds
|
| Amount: | RMB 600 million
|
| Maturity: | June 2, 2014
|
| Bookrunners: | DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank (Hong Kong) Ltd.
|
| Coupon: | 6½%
|
| Price: | Par
|
| Yield: | 6½%
|
| Settlement date: | June 2
|
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