New Issue: Greenland Hong Kong sells $500 million 4 3/8% notes due 2017 at 4 5/8%

By Christine Van Dusen

Atlanta, July 31 – China’s Greenland Hong Kong Holdings Ltd. sold $500 million 4 3/8% three-year notes (expected ratings: Ba1/BB+/BBB-) at 99.307 to yield 4.58% on Thursday, a syndicate source said.

Credit Suisse and HSBC were the joint global coordinators for the Regulation S deal. Credit Suisse, HSBC, BOC International, JPMorgan and Morgan Stanley were the joint bookrunners.

The proceeds will be used for general corporate purposes, development of domestic projects and repayment of existing debt.

Greenland Holding is a real estate developer based in Shanghai.

Issuer:	Greenland Hong Kong Holdings Ltd.
Amount:	$500 million
Maturity:	Aug. 7, 2017
Description:	Notes
Bookrunners:	Credit Suisse and HSBC (joint global coordinators); Credit Suisse, HSBC, BOC International, JPMorgan, Morgan Stanley (joint bookrunners)
Coupon:	4 3/8
Price:	99.307
Yield:	4 5/8%
Trade date:	July 31
Settlement date:	Aug. 7
Expected ratings:	Moody’s: Ba1
	Standard & Poor’s: BB+
	Fitch: BBB-
Distribution:	Regulation S

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