By Christine Van Dusen
Atlanta, May 12 - China Resources Land Ltd. sold $750 million 4 5/8% senior notes due May 19, 2016 (/BBB/) at 99.353 to yield 4.772%, or Treasuries plus 290 basis points, a market source said.
The notes priced in line with talk, set at the Treasuries plus 295 bps area.
HSBC, BOC International and DBS Bank were the bookrunners for the Rule 144A and Regulation S notes.
China Resources Land is a property developer based in Hong Kong.
| Issuer: | China Resources Land Ltd.
|
| Amount: | $750 million
|
| Maturity: | May 19, 2016
|
| Description: | Senior notes
|
| Bookrunners: | HSBC, BOC International, DBS Bank
|
| Coupon: | 4 5/8%
|
| Price: | 99.353
|
| Yield: | 4.772%
|
| Spread: | Treasuries plus 290 bps
|
| Trade date: | May 12
|
| Settlement date: | May 19
|
| Rating: | Standard & Poor's: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 295 bps
|
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