China's Agile Property talks $350 million seven-year notes at 9¼% area, pricing late this week

By Paul A. Harris

St. Louis, Sept. 13 - Agile Property Holdings Ltd. talked its $350 million offering of seven-year senior notes at the 9¼% area on Wednesday, according to an informed source.

Morgan Stanley and HSBC are joint bookrunners for the Rule 144A and Regulation S notes.

The U.S. roadshow started this week, following a roadshow in Asia. Pricing is expected late this week.

The notes come with four years of call protection.

Proceeds will be used to fund the acquisition and development of land and for general corporate purposes.

Moody's Investors Service assigns its Ba3 rating to the notes. Standard & Poor's rates the notes BB.

Hong Kong-based Agile Property develops and manages property in the People's Republic of China and the British Virgin Islands.

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