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China's Evergrande talks $500 million minimum senior notes at 13% area
By Paul A. Harris
St. Louis, Jan. 20 - China's Evergrande Real Estate Group Ltd. talked its $500 million minimum offering of senior notes (B1/BB-/BB+) at the 13% area on Wednesday, according to an informed source.
The deal is expected to price on Friday.
Bank of America Merrill Lynch, Goldman Sachs & Co. (Asia) and BOC International are joint bookrunners for the Rule 144A and Regulation S offering.
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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