By Christine Van Dusen
Atlanta, April 22 – Hongkong Electric Holdings Ltd. priced $750 million 2 7/8% 10-year notes (expected rating: /A-/) at 98.91 to yield Treasuries plus 112.5 basis points, a market source said.
The notes were talked at a spread in the 115 bps area over Treasuries.
BofA Merrill Lynch, BNP Paribas, HSBC and Mizuho Securities were the bookrunners for the Regulation S deal.
The proceeds will be used for general corporate purposes.
The issuer is an energy company.
| Issuer: | Hongkong Electric Holdings Ltd.
|
| Amount: | $750 million
|
| Maturity: | May 3, 2026
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, BNP Paribas, HSBC, Mizuho Securities
|
| Coupon: | 2 7/8%
|
| Price: | 98.91
|
| Spread: | Treasuries plus 112.5 bps
|
| Trade date: | April 21
|
| Settlement date: | May 3
|
| Expected rating: | Standard & Poor's: A-
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 115 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
