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China's Greenland talks dollar benchmark notes due 2016 at 4 7/8%
By Christine Van Dusen
Atlanta, Oct. 7 - China's Greenland Holding Group Co. Ltd. set talk at 4 7/8% for its planned issue of dollar-denominated benchmark-sized notes due in three years (expected ratings: Ba1/BB+/BBB-), a market source said.
HSBC, JPMorgan, Morgan Stanley, BOC International, Deutsche Bank, Citigroup and Goldman Sachs are the bookrunners for the Regulation S deal.
The proceeds will be used to refinance existing debt - including the company's $200 million 13½% notes due 2016 - and to finance property projects and for general corporate purposes.
The issuer is a real estate developer based in Shanghai.
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