New Issue: Kerry Properties unit sells $500 million 5% notes due 2017 at 437.5 bps spread

By Christine Van Dusen

Atlanta, Feb. 8 - China's Wiseyear Holdings Ltd. - a unit of Hong Kong-based property developer Kerry Properties Ltd. - priced $500 million 5% notes due Feb. 15, 2017 (/BBB-/) at 99.142 to yield 5.197%, or Treasuries plus 437.5 basis points, a market source said.

The notes priced at the low end of talk, which was set at Treasuries plus 437.5 bps to 450 bps.

HSBC, Mizuho and Morgan Stanley were the bookrunners for the Regulation S deal.

Issuer:	Wiseyear Holdings Ltd.
Amount:	$500 million
Maturity:	Feb. 15, 2017
Description:	Senior notes
Bookrunners:	HSBC, Mizuho, Morgan Stanley
Coupon:	5%
Price:	99.142
Yield:	5.197%
Spread:	Treasuries plus 437.5 bps
Trade date:	Feb. 8
Settlement date:	Feb. 15
Rating:	Standard & Poor's: BBB-
Distribution:	Regulation S
Price talk:	Treasuries plus 437.5 bps to 450 bps

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.