Published on 4/1/2011 in the Prospect News Emerging Markets Daily.
New Issue: China's Kerry Properties sells $300 million 5 7/8% notes due 2021 at 250 bps spread
By Christine Van Dusen
Atlanta, April 1 - Hong Kong's Kerry Properties Ltd. priced $300 million 5 7/8% notes due April 6, 2021 (/BBB-/) at 99.537 to yield 5.937%, or Treasuries plus 250 basis points, a market source said.
BOCI, Deutsche Bank and HSBC were the bookrunners for the Regulation S notes.
Kerry Properties is a property development company based in Hong Kong.
| Issuer: | Kerry Properties Ltd.
|
| Amount: | $300 million
|
| Maturity: | April 6, 2021
|
| Description: | Senior notes
|
| Bookrunners: | BOCI, Deutsche Bank, HSBC
|
| Coupon: | 5 7/8%
|
| Price: | 99.537
|
| Yield: | 5.937%
|
| Spread: | Treasuries plus 250 bps
|
| Trade date: | March 31
|
| Settlement date: | April 6
|
| Rating: | Standard & Poor's: BBB-
|
| Distribution: | Regulation S
|
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