China's Agile sets talk in 6 7/8% area for three-year renminbi notes

By Christine Van Dusen

Atlanta, Feb. 21 - China's Agile Property Holdings Ltd. set price talk in the 6 7/8% area for its upcoming renminbi-denominated issue of notes due in three years (expected ratings: Ba2/BB-/), a market source said.

HSBC, Morgan Stanley and Standard Chartered Bank are the bookrunners for the Regulation S deal.

The proceeds will be used to refinance the company's $300 million aggregate principal amount of 10% notes due 2016.

The notes are expected to price as soon as Friday.

Agile Property is a Hong Kong-based property development company.

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