China's Yuzhou Properties plans offering of notes, will refinance debt

By Wendy Van Sickle

Columbus, Ohio, Oct. 17 – Yuzhou Properties Co. Ltd. plans to price an offering of senior notes (expected B1/BB-), according to a company announcement.

The offering is subject to market conditions and investor interest, the company said.

The issue size, offer price and coupon will be determined through a book building exercise.

BOC International, Credit Suisse, Deutsche Bank, Haitong International, HSBC and Huatai Financial are the joint bookrunners and the joint lead managers. Yuzhou Financial is also a joint lead manager.

The company will use the proceeds of the Regulation S deal to refinance its existing debt and for general corporate purposes.

Yuzhou is a property developer based in Hong Kong.

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