New Issue: China's Yuzhou Properties prices $300 million 5.375% perpetual securities at par

By Wendy Van Sickle

Columbus, Ohio, Sept. 25 – Yuzhou Properties Co. Ltd. priced $300 million of 5.375% senior perpetual securities (B1) at par on Monday, according to a term sheet.

The distribution rate will reset on the first call date, Sept. 29, 2022.

BOC International, Citi, Credit Suisse, HSBC, Huatai, Industrial Bank, Haitong International and Yuzhou Financial are the joint bookrunners and the joint lead managers.

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

Yuzhou is a property developer based in Hong Kong.

Issuer:	Yuzhou Properties Co. Ltd.
Issue:	Senior perpetual securities
Amount:	$300 million
Maturity:	Perpetual
Distribution rate:	5.375% initially, resets after five years
Price:	Par
Bookrunners:	BOC International, Citi, Credit Suisse, HSBC, Huatai, Industrial Bank, Haitong International and Yuzhou Financial
Call:	Callable after five years
Pricing date:	Sept. 25
Issue date:	Sept. 29
Distribution:	Regulation S
Ratings:	Moodys: B1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.