China Resources Gas launches $750 million 10-year notes at Treasuries plus 260 bps

By Aleesia Forni

Columbus, Ohio, March 29 - China Resources Gas Group Ltd. launched a $750 million offering of 10-year fixed-rate senior unsecured notes (Baa1//BBB+) at Treasuries plus 260 basis points, according to a market source.

Citigroup and Deutsche Bank are the global coordinators for the Regulation S deal and are joined by JPMorgan, HSBC, UBS and Standard Chartered as joint bookrunners.

A roadshow with institutional investors began on Thursday.

The deal is subject to market conditions and will be issued under the company's $1.5 billion global medium-term note program.

The Hong Kong-based liquefied gas company intends to use proceeds for general corporate purposes, including acquisitions and working capital.

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