By Marisa Wong
Morgantown, W.Va., Dec. 1 – Golden Wheel Tiandi Holdings Co. Ltd. priced $100 million of 9½% senior notes due 2017 at 99.555 on Tuesday, according to a company announcement.
The company announced earlier in the day that it set talk in the 9¾% area for the dollar-denominated notes (expected: /B/B).
BOCI Asia Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Haitong International Securities Co. Ltd. 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 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.
| Issuer: | Golden Wheel Tiandi Holdings Co. Ltd.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Maturity: | 2017
|
| Coupon: | 9½%
|
| Price: | 99.555
|
| Bookrunners: | BOCI Asia Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Haitong International Securities Co. Ltd.
|
| Price talk: | 9¾%
|
| Pricing date: | Dec. 1
|
| Expected ratings: | Standard & Poor’s: B
|
| Fitch: B
|
| Distribution: | Regulation S
|
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