By Christine Van Dusen
Atlanta, May 9 - Power Construction Corp. of China sold RMB 1.5 billion three-year notes at par to yield 4.2%, a market source said.
The notes were talked at a yield between 4.2% and 4¼%.
Standard Chartered Bank, Bank of Communications (Hong Kong branch) and HSBC were the bookrunners for the Regulation S deal.
The proceeds will be used for the financing of existing and new overseas investment projects, for working capital and for general corporate purposes.
The issuer is a Beijing-based contracting, investment and real estate development company.
| Issuer: | Power Construction Corp. of China
|
| Amount: | RMB 1.5 billion
|
| Maturity: | May 15, 2017
|
| Description: | Senior notes
|
| Bookrunners: | Standard Chartered Bank, Bank of Communications (Hong Kong branch), HSBC
|
| Coupon: | 4.2%
|
| Price: | Par
|
| Yield: | 4.2%
|
| Trade date: | May 8
|
| Settlement date: | May 15
|
| Distribution: | Regulation S
|
| Price talk: | 4.2% to 4¼%
|
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