By Christine Van Dusen
Atlanta, April 29 – China’s Yuexiu Transport Infrastructure Ltd. priced €200 million 1 5/8% three-year notes (Baa2/BBB-/BBB-) at 99.782 to yield 1.7%, or a spread of mid-swaps plus 158 basis points, on Wednesday, a market source said.
The notes were talked at a spread in the 175 bps area.
Bank of China, BOC International, HSBC, JPMorgan and Nomura Securities were the bookrunners for the Regulation S deal.
The notes were issued by Famous Kind International Ltd. and guaranteed by Yuexiu Transport.
The issuer is based in Hong Kong.
| Issuer: | Famous Kind International Ltd.
|
| Guarantor: | Yuexiu Transport Infrastructure Ltd.
|
| Amount: | €200 million
|
| Maturity: | May 7, 2018
|
| Description: | Senior notes
|
| Bookrunners: | Bank of China, BOC International, HSBC, JPMorgan, Nomura Securities
|
| Coupon: | 1 5/8%
|
| Price: | 99.782
|
| Yield: | 1.7%
|
| Spread: | Mid-swaps plus 158 bps
|
| Trade date: | April 29
|
| Expected ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 175 bps area
|
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