China's Yuzhou Properties talks up to $300 million five-year notes at 13%-13½% yield

By Christine Van Dusen

Atlanta, Nov. 17 - China's Yuzhou Properties Co. Ltd. talked its planned $200 million to $300 million offering of five-year notes at a yield of 13% to 13½%, a market source said Wednesday.

BOCI, Nomura and RBS are the bookrunners for the Rule 144A and Regulation S notes, which are non-callable for three years.

Proceeds will be used for general corporate purposes, to repay certain loans and to fund the acquisition of land for residential and commercial property development.

Yuzhou Properties is a property developer based in Fujian Province, China.

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