Published on 1/21/2014 in the Prospect News Emerging Markets Daily.
New Issue: China Shipping sells $500 million 4¼% notes due 2019 at 270 bps spread
By Christine Van Dusen
Atlanta, Jan. 21 - China Shipping Overseas Finance 2013 Ltd. priced $500 million 4¼% notes due 2019 at 99.546 to yield Treasuries plus 270 basis points (expected rating: A1), a market source said.
Bank of China, Deutsche Bank, BofA Merrill Lynch, ANZ, Bank of Communications Hong Kong, Barclays, DBS and ING were the bookrunners for the Regulation S deal.
Bank of China, Deutsche Bank and BofA Merrill Lynch were also the joint global coordinators.
| Issuer: | China Shipping Overseas Finance 2013 Ltd.
|
| Amount: | $500 million
|
| Maturity: | 2019
|
| Description: | Notes
|
| Bookrunners: | Bank of China, Deutsche Bank, BofA Merrill Lynch, ANZ, Bank of Communications Hong Kong, Barclays, DBS, ING
|
| Coupon: | 4¼%
|
| Price: | 99.546
|
| Spread: | Treasuries plus 270 bps
|
| Trade date: | Jan. 21
|
| Expected rating: | Moody's: A1
|
| Distribution: | Regulation S
|
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