Published on 1/22/2013 in the Prospect News Emerging Markets Daily.
New Issue: China's Hengdeli Holdings sells $350 million 6¼% notes due 2018 at par
By Christine Van Dusen
Atlanta, Jan. 22 - China's Hengdeli Holdings Ltd. sold $350 million notes due 2018 (Ba1//BB+) on Tuesday at par to yield 6¼%, a market source said.
The notes were talked at a yield in the 6 3/8% area.
Deutsche Bank, Standard Chartered Bank, JPMorgan and HSBC were the bookrunners for the Regulation S deal.
Hengdeli is a Hong Kong-based watch retailer and wholesaler.
| Issuer: | Hengdeli Holdings Ltd.
|
| Amount: | $350 million
|
| Maturity: | 2018
|
| Description: | Notes
|
| Bookrunners: | Deutsche Bank, Standard Chartered Bank, JPMorgan, HSBC
|
| Coupon: | 6¼%
|
| Price: | Par
|
| Yield: | 6¼%
|
| Trade date: | Jan. 22
|
| Expected ratings: | Moody's: Ba1
|
| Fitch: BB+
|
| Distribution: | Regulation S
|
| Price talk: | 6 3/8% area
|
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