By Christine Van Dusen
Atlanta, Feb. 3 - Hong Kong's Wharf Finance Ltd. priced a $300 million tap of its 4 5/8% notes due Feb. 8, 2017 at 100.266 to yield 4.565%, or Treasuries plus 385 basis points, a market source said.
The notes priced in line with talk, set at the Treasuries plus 395 bps area.
HSBC, JPMorgan and Standard Chartered Bank were the bookrunners for the Regulation S deal.
The original issue totaled $600 million and priced at 99.515 to yield 4.725%.
The notes are guaranteed by Wharf (Holdings) Ltd., a Hong Kong-based conglomerate.
| Issuer: | Wharf Finance Ltd.
|
| Guarantor: | Wharf (Holdings) Ltd.
|
| Amount: | $300 million
|
| Maturity: | Feb. 8, 2017
|
| Description: | Senior notes
|
| Bookrunners: | HSBC, JPMorgan, Standard Chartered Bank
|
| Coupon: | 4 5/8%
|
| Price: | 100.266
|
| Yield: | 4.565%
|
| Spread: | Treasuries plus 385 bps
|
| Trade date: | Feb. 3
|
| Settlement date: | Feb. 8
|
| Expected rating: Fitch: A-
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 395 bps area
|
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