By Angela McDaniels
Tacoma, Wash., May 23 – Yuexiu Real Estate Investment Trust said Yuexiu REIT MTN Co. Ltd. priced HK$770 million of 3.6% notes (Baa3) due 2024.
The notes are guaranteed by HSBC Institutional Trust Services (Asia) Ltd. in its capacity as the trustee of Yuexiu.
The managers are Bank of China (Hong Kong) Ltd, DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd.
Proceeds will be used to refinance Yuexiu’s existing facilities and to fund general corporate purposes.
Yuexiu is a REIT based in Hong Kong.
| Issuer: | Yuexiu REIT MTN Co. Ltd.
|
| Guarantor: | HSBC Institutional Trust Services (Asia) Ltd.
|
| Amount: | HK$770 million
|
| Maturity: | May 28, 2024
|
| Managers: | Bank of China (Hong Kong) Ltd, DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd.
|
| Coupon: | 3.6%
|
| Price: | Par
|
| Yield: | 3.6%
|
| Put option: | Upon a change of control
|
| Pricing date: | May 21
|
| Settlement date: | May 28
|
| Rating: | Moody’s: Baa3
|
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