New Issue: Singapore’s Yanlord prices $450 million 5 7/8% notes due 2022 at par

By Christine Van Dusen

Atlanta, Jan. 17 – Singapore’s Yanlord Land Group Ltd. priced $450 million 5 7/8% notes due Jan. 23, 2022 at par to yield 5 7/8%, according to a company announcement.

DBS Bank, HSBC and Standard Chartered Bank were the bookrunners for the Regulation S deal. United Overseas Bank Ltd. was lead manager.

The issuer is a property developer.

Issuer:	Yanlord Land (HK) Co., Ltd.
Guarantor:	Yanlord Land Group Ltd.
Amount:	$450 million
Maturity:	Jan. 23, 2022
Description:	Notes
Bookrunners:	DBS Bank, HSBC, Standard Chartered Bank
Lead manager:	United Overseas Bank Ltd.
Coupon:	5 7/8%
Price:	Par
Yield:	5 7/8%
Call options:	Make-whole call prior to Jan. 23, 2020, then at a premium
Change of control put:	At 101
Equity clawback:	For up to 35% at 105.875 before Jan. 23, 2020
Trade date:	Jan. 17
Settlement date:	Jan. 23
Expected ratings: Moody’s: Ba3
	S&P: BB-
Distribution:	Regulation S
Marketing:	Roadshow

© 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.