By Colin Hanner
Chicago, April 11 – Damac Real Estate Development Ltd. priced $500 million five-year notes to yield 6¼% on Tuesday, a market source said.
The notes will be issued by Alpha Star Holding III Ltd.
Initial price talk was around 6 3/8%, tightening by 1/8% at close, the source said.
Bookrunners for the deal were HSBC, BofA Merrill Lynch, Emirates NBD Capital and VTB Capital.
The issuer is a Dubai-based property development company.
| Issuer: | Alpha Star Holding III Ltd.
|
| Amount: | $500 million
|
| Maturity: | April 20, 2022
|
| Bookrunners: | HSBC, BofA Merrill Lynch, Emirates NBD Capital and VTB Capital
|
| Coupon: | 6¼%
|
| Price: | Par
|
| Yield: | 6¼%
|
| Trade date: | April 11
|
| Marketing: | Roadshow
|
| Price talk: | 6¼%, revised from 6 3/8%
|
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