Hong Kong's Lai Fung talks up to $200 million seven-year notes at 9¼% area

By Reshmi Basu

New York, March 29 - Lai Fung Holding set price talk for an offering of up to $200 million in seven-year fixed-rate senior notes (B1/B+) in the area of 9¼%, according to a market source.

Proceeds from the sale will be used to help fund the acquisition of land and property projects, for project development, for property improvements and for general working capital.

Deutsche Bank and HSBC have been mandated as joint lead bookrunners for the deal.

The Hong Kong-based issuer is involved in the development of properties and in investment in service apartments, commercial and office buildings in China.

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