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China's Kaisa Group talks dollar benchmark five-year notes at 9¼%
By Christine Van Dusen
Atlanta, May 29 - China's Kaisa Group Holdings Ltd. set talk at 9¼% for a benchmark-sized offering of dollar-denominated notes due in five years (expected ratings: Ba3/BB-/), a market source said.
Citigroup, Credit Suisse, Goldman Sachs, HSBC and JPMorgan are the bookrunners for the Regulation S deal.
The proceeds will be used to refinance debt, to finance existing and new property projects, and for general corporate purposes.
The notes could price as soon as Thursday.
Kaisa Group is a Shenzhen, China-based property development company.
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