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China’s Golden Wheel Tiandi guides dollar-denominated two-year notes at 9¾% area yield
By Christine Van Dusen
Atlanta, Dec. 1 – Golden Wheel Tiandi Holdings Co. Ltd. set talk in the 9¾% area for an offering of dollar-denominated two-year notes, a market source said.
BOC International, HSBC and Haitong International are the joint global coordinators and joint bookrunners for the Regulation S sale.
Proceeds will be used to refinance existing debt, to fund new property projects and for general corporate purposes.
Golden Wheel Tiandi on Monday released an update on its business, warning that it expects a “substantial decrease” in total revenue for 2015 compared to 2014.
It blamed the reduction on lower revenue from property development due to the fact that the company did not have new projects completed and delivered during 2015. Revenue from property leasing is expected to see a “modest increase” in 2015 versus 2014.
Golden Wheel Tiandi is a Hong Kong-based commercial and residential property developer, owner and operator that focuses on projects in Jiangsu and Hunan provinces that are physically connected or in close proximity to metro stations or other transportation hubs.
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