By Reshmi Basu
New York, Sept. 16 - Hong Kong's Panva Gas Holdings Ltd. priced an upsized $200 million of bonds (Ba1/BB+) at par to yield 8¼%, according to a market source.
The size of the deal was increased to $200 million from $150 million.
Merrill Lynch and Morgan Stanley ran the maiden deal for Panva.
Panva is a supplier of gas in China.
| Issuer: | Panva Gas Holdings Ltd.
|
| Amount: | $200 million (increased from $150 million)
|
| Issue: | Bonds
|
| Maturity: | Sept. 23, 2011
|
| Coupon: | 8¼%
|
| Issue price: | Par
|
| Yield: | 8¼%
|
| Spread: | 446.30 basis points
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 23
|
| Bookrunners: | Merrill Lynch, Morgan Stanley
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
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