New Issue: China's Yuexiu Property sells $350 million 3.1% five-year notes to yield 3.2%

By Christine Van Dusen

Atlanta, May 7 - China's Yuexiu Property Co. Ltd. priced a $350 million issue of 3.1% five-year notes (Baa2/BBB/) at 99.541 to yield 3.2%, or Treasuries plus 245 basis points, a market source said.

Bank of China, DBS, HSBC and Morgan Stanley were the bookrunners for the Regulation S deal.

The notes include a change-of-control put at 101% and a make-whole call at Treasuries plus 50 bps.

The issuer is a property developer based in Hong Kong.

Issuer:	Yuexiu Property Co. Ltd.
Amount:	$350 million
Maturity:	May 14, 2018
Description:	Senior notes
Bookrunners:	Bank of China, DBS, HSBC, Morgan Stanley
Coupon:	3.1%
Price:	99.541
Yield:	3.2%
Spread:	Treasuries plus 245 bps
Call features:	Make-whole call at Treasuries plus 50 bps
Change-of-control put:	101%
Trade date:	May 7
Settlement date:	May 14
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB
Distribution:	Regulation S

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