By Christine Van Dusen
Atlanta, June 21 – Wuxi Construction and Development Investment Co. Ltd. priced a $300 million issue of 3¼% notes due 2019 (expected ratings: /BBB/BBB+) at 99.983 to yield 3.256%, or Treasuries plus 240 basis points, a market source said.
The notes were talked at a spread of 260 bps over Treasuries.
Standard Chartered Bank, JPMorgan and Wing Lung Bank were the joint global coordinators and – along with China Minsheng Banking, Shanghai Pudong Development Bank, HSBC and Bocom International – the joint bookrunners and joint lead managers for the Regulation S deal.
Wuxi Construction is a Wuxi, China-based developer, operator, manager and builder of property.
Issuer: | Wuxi Construction and Development Investment Co. Ltd.
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Amount: | $300 million
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Maturity: | 2019
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Description: | Notes
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Bookrunners: | Standard Chartered Bank, JPMorgan and Wing Lung Bank (joint global coordinators); China Minsheng Banking, Shanghai Pudong Development Bank, HSBC, Bocom International
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Coupon: | 3¼%
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Price: | 99.983
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Yield: | 3.256%
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Spread: | Treasuries plus 240 bps
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Trade date: | June 20
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Expected ratings: | S&P: BBB
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| Fitch: BBB+
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Distribution: | Regulation S
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Price talk: | Treasuries plus 260 bps
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