By Jennifer Chiou
New York, July 27 - China Resources Land Ltd. announced the sale of an addition $250 million of its 4 5/8% senior notes due May 19, 2016 at 99.252.
The company priced on May 12 the initial $750 million of notes (/BBB/) at 99.353 to yield 4.772%, or Treasuries plus 290 basis points, a market source previously said. The initial 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.
Net proceeds of $247,240,865 will go towards general corporate purposes, including the financing of existing and new projects and working capital.
China Resources Land is a property developer based in Hong Kong.
| Issuer: | China Resources Land Ltd.
|
| Issue: | Senior notes
|
| Amount: | $250 million add-on
|
| Maturity: | May 19, 2016
|
| Bookrunners: | HSBC, BOC International, DBS Bank
|
| Coupon: | 4 5/8%
|
| Price: | 99.252
|
| Announcement date: | July 28
|
| Distribution: | Rule 144A and Regulation S
|
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