By Christine Van Dusen
Atlanta, Jan. 16 - China's Guangzhou R&F Properties Co. Ltd. - through Caifu Holdings Ltd. - priced a $400 million issue of 8¾% notes due Jan. 24, 2020 at par to yield 8¾%, or Treasuries plus 753 basis points, a market source said.
The notes priced in line with talk, set in the 8¾% area.
Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley and UBS were the bookrunners for the Regulation S notes, which are non-callable for four years.
The proceeds will be used to refinance existing debt, for land acquisition and for general corporate purposes, according to a company filing.
Guangzhou R&F Properties Co. Ltd. is a real estate company based in Guangzhou, Guangdong, China.
| Issuer: | Caifu Holdings Ltd.
|
| Amount: | $400 million
|
| Maturity: | Jan. 24, 2020
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley, UBS
|
| Coupon: | 8¾%
|
| Price: | Par
|
| Yield: | 8¾%
|
| Spread: | Treasuries plus 753 bps
|
| Call features: | Non-callable for four years
|
| Trade date: | Jan. 16
|
| Settlement date: | Jan. 24
|
| Distribution: | Regulation S
|
| Price talk: | 8¾% area
|
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