New York, March 2 – Pacific Century Premium Developments Ltd. priced a $500 million issue of 4.75% bonds due 2022 at par, according to a company announcement.
J.P. Morgan Securities plc, Morgan Stanley & Co. International plc, Hongkong and Shanghai Banking Corp. Ltd. were joint bookrunners and joint lead managers and were joined by China Everbright Securities (HK) Ltd. as a joint bookrunner.
Proceeds will be used to service the group’s general corporate debt and for general corporate purposes, including to help fund the group’s development of an all-season resort in Hokkaido, Japan and the development of a premium grade A office building in Sudirman CBD, Jakarta, Indonesia.
Pacific Century is majority owned by PCCW Ltd. and is engaged in the development and management of premium property and infrastructure projects, as well as investment in premium-grade buildings in the Asia-Pacific region. It is headquartered in Hong Kong.
| Issuer: | PCPD Capital Ltd. (Pacific Century Premium Developments Ltd.)
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| Issue: | Bonds
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| Amount: | $500 million
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| Maturity: | March 9, 2022
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| Coupon: | 4.75%
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| Price: | Par
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| Yield: | 4.75%
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| Bookrunners: | J.P. Morgan Securities plc, Morgan Stanley & Co. International plc, Hongkong and Shanghai Banking Corp. Ltd. (joint leads), China Everbright Securities (HK) Ltd.
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| Pricing date: | March 2
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| Settlement date: | March 9
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