By Christine Van Dusen
Atlanta, Oct. 16 – Power Construction Corp. of China sold $500 million 4.05% perpetual notes (expected rating: A3) at par to yield 4.05%, a market source said.
The notes were talked at a yield in the 4.1% area.
HSBC, Standard Chartered Bank, Bank of Communications Hong Kong, Bank of China and CCB International were the bookrunners for the Regulation S deal.
The notes will be non-callable for five years.
The issuer is a Beijing-based contracting, investment and real estate development company.
| Issuer: | Power Construction Corp. of China
|
| Amount: | $500 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunners: | HSBC, Standard Chartered Bank, Bank of Communications Hong Kong, Bank of China, CCB International
|
| Coupon: | 4.05%
|
| Price: | Par
|
| Yield: | 4.05%
|
| Trade date: | Oct. 15
|
| Settlement date: | Oct. 21
|
| Expected rating: | Moody’s: A3
|
| Distribution: | Regulation S
|
| Price talk: | 4.1% area
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
