By Christine Van Dusen
Atlanta, Jan. 21 - China's Yuzhou Properties Co. Ltd. priced $300 million five-year notes (expected ratings: B2/B/) at par to yield 8 5/8%, according to a company filing.
The price matched talk, set at 8 5/8%.
BOCI Asia Ltd., Citigroup Global Markets Inc., Deutsche Bank AG, Singapore Branch and HSBC were the bookrunners and lead managers.
The proceeds of the Regulation S deal will be used to repay some debt, to fund the acquisition of land for residential and commercial property development and for general corporate purposes.
Yuzhou is a property developer based in Hong Kong.
| Issuer: | Yuzhou Properties Co. Ltd.
|
| Amount: | $300 million
|
| Maturity: | Jan. 24, 2019
|
| Description: | Notes
|
| Bookrunners: | BOC Asia Ltd., Citigroup Global Markets Inc., Deutsche Bank AG, HSBC
|
| Coupon: | 8 5/8%
|
| Price: | Par
|
| Yield: | 8 5/8%
|
| Trade date: | Jan. 17
|
| Settlement date: | Jan. 24
|
| Distribution: | Regulation S
|
| Expected ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Price talk: | 8 5/8%
|
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