By Paul A. Harris
St. Louis, Aug. 18 - Gain Silver Finance Ltd., a wholly owned subsidiary of Hong Kong-based developer Kerry Properties Ltd., priced a $420 million issue of 6 3/8% 10-year senior unsecured notes (BBB-) at a 105 basis point spread to mid-swaps on Friday, according to an informed source.
Goldman Sachs & Co. ran the books for the Regulation S issue.
The issue came at a dollar price of 99.592.
Kerry Properties is the guarantor of the notes.
| Issuer: | Gain Silver Finance Ltd.
|
| Amount: | $420 million
|
| Maturity: | Aug. 25, 2016
|
| Security description: | Senior unsecured notes
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| Bookrunner: | Goldman Sachs & Co.
|
| Coupon: | 6 3/8%
|
| Price: | 99.592
|
| Yield: | Mid-swaps plus 105 bps
|
| Trade date: | Aug. 18
|
| Settlement date: | Aug. 25
|
| Ratings: | Standard & Poor's: BBB-
|
| Distribution: | Regulation S
|
| Listing: | Singapore
|
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