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China's Evergrande Real Estate to start global roadshow for dollar-denominated notes Wednesday
By Paul A. Harris
St. Louis, Jan. 11 - China's Evergrande Real Estate Group Ltd. will begin a global roadshow for a dollar-denominated offering of senior notes on Wednesday, according to an informed source.
Bank of America Merrill Lynch, Goldman Sachs & Co. (Asia) and BOC International are joint bookrunners for the Rule 144A and Regulation S offering.
Moody's Investors Service is expected to assign its B1 corporate credit rating to Evergrande. The expected Standard & Poor's and Fitch Ratings corporate credit ratings for Evergrande are BB and BB+, respectively.
The Guangzhou, China-based property company will use the proceeds to repay a structured secured loan, to finance existing and new property projects and for general corporate purposes.
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