By Christine Van Dusen
Atlanta, Jan. 12 – Ping An Real Estate Co. Ltd. priced a $1.2 billion issue of three- and five-year notes (expected rating: A2) on Tuesday, a market source said.
The $700 million 2 3/8% notes due 2019 priced at a spread of 125 basis points over Treasuries. Other details on this tranche were not immediately available on Tuesday.
The $500 million 2 7/8% notes due 2021 priced at 99.323 to yield Treasuries plus 140 bps.
HSBC, BofA Merrill Lynch and CICC HK Securities were the bookrunners for the Regulation S deal.
The issuer is based in Shenzhen, China.
| Issuer: | Ping An Real Estate Co. Ltd.
|
| Amount: | $1.2 billion
|
| Description: | Notes
|
| Bookrunners: | HSBC, BofA Merrill Lynch, CICC HK Securities
|
| Trade date: | Jan. 12
|
| Settlement date: | Jan. 19
|
| Expected rating: | Moody's: A2
|
| Distribution: | Regulation S
|
|
|
| 2019 notes
|
| Amount: | $700 million
|
| Maturity: | Jan. 19, 2019
|
| Coupon: | 2 3/8%
|
| Spread: | Treasuries plus 125 bps
|
|
|
| 2021 notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 19, 2021
|
| Coupon: | 2 7/8%
|
| Price: | 99.323
|
| Spread: | Treasuries plus 140 bps
|
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