By Christine Van Dusen
Atlanta, April 29 - Malaysia's Parkson Retail Group Ltd. priced $500 million five-year notes (Ba1//BBB-) at par to yield 4½%, a market source said.
The notes priced at the tight end of talk, set at 4½% to 4 5/8%.
DBS Bank, JPMorgan and Nomura Securities were the bookrunners for the Regulation S deal.
The proceeds will be used to refinance existing debt and for general corporate purposes.
Parkson Retail is a department store company based in Selangor, Malaysia.
| Issuer: | Parkson Retail Group Ltd.
|
| Amount: | $500 million
|
| Maturity: | May 3, 2018
|
| Description: | Senior notes
|
| Bookrunners: | DBS Bank, JPMorgan, Nomura Securities
|
| Coupon: | 4½%
|
| Price: | Par
|
| Yield: | 4½%
|
| Trade date: | April 26
|
| Settlement date: | May 3
|
| Ratings: | Moody's: Ba1
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
| Price talk: | 4½% to 4 5/8%
|
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