China’s Evergrande Real Estate talks five-year dollar bonds at 12%

By Christine Van Dusen

Atlanta, Feb. 10 – China’s Evergrande Real Estate Group Ltd. set talk at 12% for its upcoming issue of dollar-denominated notes due in five years (expected ratings: B2/B+), a market source said.

JPMorgan, Credit Suisse, Deutsche Bank and China Merchants Securities are the bookrunners for the Regulation S deal.

The proceeds will be used to refinance existing indebtedness.

The notes will be non-callable for three years.

The real estate developer based in Guangzhou could price the notes as soon as Tuesday.

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