New Issue: China Overseas sells $500 million 4 7/8% five-year notes at Treasuries plus 410 bps

By Paul A. Harris

Portland, Ore., Feb. 9 - China Overseas Finance (Cayman) IV Ltd. priced a $500 million issue of 4 7/8% five-year senior notes (Baa2/BBB/) at a 410 basis points spread to Treasuries on Thursday, according to market sources.

The spread came at the tight end of the Treasuries plus 410 bps to 420 bps final guidance.

Deutsche Bank, HSBC, ICBC International and JPMorgan were the bookrunners.

China Overseas is a Hong Kong-based construction and development company.

Issuer:	China Overseas Finance (Cayman) IV Ltd.
Amount:	$500 million
Maturity:	Feb. 15, 2017
Securities:	Senior notes
Bookrunners:	Deutsche Bank, HSBC, ICBC International, JPMorgan
Coupon:	4 7/8%
Price:	99.816
Spread:	Treasuries plus 410 bps
Trade date:	Feb. 9
Settlement date:	Feb. 15
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB
Distribution:	Regulation S
Final guidance:	Treasuries plus 410 bps to 420 bps

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