By Paul A. Harris
Portland, Ore., Feb. 15 - Hong Kong-based property developer Wheelock & Co. Ltd. priced a $400 million issue of non-rated 4¾% five-year senior notes at a 400 basis points over Treasuries on Tuesday, according to market sources.
The spread printed tighter than the Treasuries plus 420 bps initial guidance.
The notes came at a par reoffer price.
DBS Bank, HSBC and Standard Chartered Bank were the mangers.
| Issuer: | Wheelock & Co. Ltd.
|
| Amount: | $400 million
|
| Maturity: | Feb. 23, 2017
|
| Securities: | Senior notes
|
| Managers: | DBS Bank, HSBC, Standard Chartered Bank
|
| Coupon: | 4¾%
|
| Price: | Par
|
| Yield: | 4¾%
|
| Spread: | Treasuries plus 400 bps
|
| Trade date: | Feb. 14
|
| Settlement date: | Feb. 23
|
| Ratings: | Non-rated
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 420 bps
|
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