By Christine Van Dusen
Atlanta, Jan. 26 - China's PCD Stores Group Ltd. priced RMB 750 million notes due Feb. 1, 2014 at par to yield 5¼%, a market source said.
HSBC was the bookrunner for the Regulation S-only notes, which include a change-of-control put at 101%.
Proceeds will be used for general working capital, to refinance existing debt and for the implementation of expansion strategies.
PCD Stores is a Xiamen, China-based department store chain.
| Issuer: | PCD Stores Group Ltd.
|
| Amount: | RMB 750 million
|
| Maturity: | Feb. 1, 2014
|
| Description: | Notes
|
| Bookrunner: | HSBC
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Change-of-control put: | 101%
|
| Trade date: | Jan. 26
|
| Settlement date: | Feb. 1
|
| Distribution: | Regulation S only
|
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