By Wendy Van Sickle
Columbus, Ohio, June 24 – Shui On Development priced $400 million of five-year 5½% sustainability-linked notes to be guaranteed by its parent, Shui On Land Ltd., at par on Thursday, according to an announcement with the Singapore Exchange.
Standard Chartered Bank and UBS are the global coordinators and bookrunners for the Regulation S issue.
Proceeds will be used to repay existing debt and fund capital expenditures.
Shui On Land is a Hong Kong-based property development company.
| Issuer: | Shui on Development
|
| Guarantor: | Shui On Land Ltd.
|
| Issue: | Sustainability-linked notes
|
| Amount: | $400 million
|
| Bookrunners: | Standard Chartered Bank and UBS
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Maturity: | 2026
|
| Call: | From June 29, 2025 until March 29, 2026 at 101.375, thereafter at par
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Distribution: | Regulation S
|
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