Beijing Infrastructure talks issue of dollar notes due in 2017, 2020

By Christine Van Dusen

Atlanta, Nov. 13 – China’s Beijing Infrastructure Investment (Hong Kong) Ltd. set talk for a two-tranche issue of dollar-denominated notes due in 2017 and 2020 (A2/A-/A+), a market source said.

The deal will include three-year dollar notes that are expected to price at a spread in the range of Treasuries plus 170 basis points to 175 bps.

The dollar notes due in January of 2020 were talked at a spread in the Treasuries plus 170 bps area.

JPMorgan, ICBC and Bank of China are the bookrunners for the Regulation S deal.

The proceeds from the notes will be used for the development of Beijing’s urban railway transit system, for working capital and for general corporate purposes.

The notes will include a change-of-control put at 101% and could price as soon as Thursday.

© 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.