By Christine Van Dusen
Atlanta April 28 - Singapore's Yanlord Land Group Ltd. priced S$400 million 6.2% notes (expected ratings: Ba3/BB-/) at par to yield 6.2%, a market source said.
The three-year notes were talked at a yield in the 6½% area.
DBS Bank, HSBC, RBS and Standard Chartered Bank were the bookrunners for the Regulation S deal.
The proceeds will be used for refinancing a 2010 revolving credit facility, a 2011 credit facility and a shareholder loan.
Yanlord is a Singapore-based property developer.
| Issuer: | Yanlord Land Group
|
| Amount: | S$400 million
|
| Maturity: | May 8, 2017
|
| Description: | Notes
|
| Bookrunners: | DBS Bank, HSBC, RBS, Standard Chartered Bank
|
| Coupon: | 6.2%
|
| Price: | Par
|
| Yield: | 6.2%
|
| Trade date: | April 28
|
| Settlement date: | May 8
|
| Expected ratings: | Moody's: Ba3
|
| Standard & Poor's: BB-
|
| Distribution: | Regulation S
|
| Price talk: | 6½% area
|
© 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.
