By Christine Van Dusen
Atlanta, Aug. 4 – Peking University Founder Group Co. Ltd. priced a $185 million tap of its 5½% notes due June 5, 2018 at 100.25 to yield 5.4% on Tuesday, a market source said.
The notes were talked at a price in the 100.125 area.
The original notes – issued by Dawn Victor Ltd. – priced in May at par to yield 5½%.
DBS was the bookrunner for the new Regulation S notes, which will include a change-of-control put at 101%.
The proceeds will be used for working capital and general corporate purposes.
The issuer is a Beijing-based technology conglomerate.
| Issuer: | Dawn Victor Ltd.
|
| Amount: | $185 million
|
| Maturity: | June 5, 2018
|
| Description: | Senior notes
|
| Bookrunners: | DBS
|
| Coupon: | 5½%
|
| Price: | 100.25
|
| Yield: | 5.4%
|
| Change-of-control put: | At 101%
|
| Trade date: | Aug. 4
|
| Distribution: | Regulation S
|
| Price talk: | 100.125 area
|
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