New Issue: China's Hutchison Whampoa prices $3 billion of six-, 10-year notes

By Paul A. Harris

St. Louis, Sept. 8 - Hutichson Whampoa Ltd. priced $3 billion of notes (A3/A-/) in two tranches on Tuesday, according to a market source.

The Chinese conglomerate priced $2 billion of 4.625% six-year notes to yield Treasuries plus 227.5 bps and $1 billion of 5.75% 10-year notes at Treasuries plus 335 bps.

Both tranches came on top of the price talk.

Barclays Capital Inc., HSBC and Deutsche Bank Securities led the Rule 144A deal.

Issuer:	Hutichson Whampoa Ltd.
Total amount:	$3 billion
Bookrunners:	Barclays Capital Inc., HSBC, Deutsche Bank Securities
Trade date:	Sept. 8
Settlement date:	Sept. 11
Ratings:	Moody's: A3
	Standard & Poor's: A-
Distribution:	Rule 144A
Six-year notes
Amount:	$2 billion
Maturity:	Sept. 11, 2015
Coupon:	4.625%
Issue price:	99.829
Yield:	4.658%
Spread:	227.5 bps
Price talk:	227.5 bps
10-year notes
Amount:	$1 billion
Maturity:	Sept. 11, 2019
Coupon:	5.75%
Issue price:	99.423
Yield:	5.827%
Spread:	335 bps
Price talk:	335 bps

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