Published on 4/16/2018 in the Prospect News Emerging Markets Daily.
New Issue: Singapore’s Yanlord prices $300 million 6¾% notes due 2023 at par
By Sarah Lizee
Olympia, Wash., April 16 – Yanlord Land Group Ltd. priced $300 million 6¾% five-year notes at par on Monday, according to a company announcement.
DBS Bank, HSBC and Standard Chartered Bank are bookrunners for the Regulation S deal.
The issuer is a property developer.
| Issuer: | Yanlord Land (HK) Co., Ltd.
|
| Guarantor: | Yanlord Land Group Ltd.
|
| Amount: | $300 million
|
| Maturity: | April 23, 2023
|
| Description: | Notes
|
| Bookrunners: | DBS Bank, HSBC, Standard Chartered Bank
|
| Coupon: | 6¾%
|
| Price: | Par
|
| Yield: | 6¾%
|
| Call options: | Make-whole call prior to April 23, 2021, then at a premium
|
| Change-of-control put: | At 101%
|
| Equity clawback: | For up to 35% at 106.75 before April 23, 2021
|
| Trade date: | April 16
|
| Settlement date: | April 23
|
| Expected ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Distribution: | Regulation S
|
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