New Issue: China's Shui On Land prices $500 million 10 1/8% perpetual notes at par

By Christine Van Dusen

Atlanta, Dec. 3 - China's Shui On Land Ltd. priced a $500 million issue of perpetual notes at par to yield 10 1/8%, a market source said.

Deutsche Bank, JPMorgan, Standard Chartered and UBS were the bookrunners for the Regulation S deal.

The notes are first callable on Dec. 10, 2017 at par.

Shui On Land is a Shanghai-based property developer.

Issuer:	Shui On Land Ltd.
Amount:	$500 million
Maturity:	Perpetual
Description:	Senior capital securities
Bookrunners:	Deutsche Bank, JPMorgan, Standard Chartered, UBS
Coupon:	10 1/8%
Price:	Par
Yield:	10 1/8%
Call features:	First callable Dec. 10, 2017 at par
Trade date:	Dec. 3
Distribution:	Regulation S

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