By Angela McDaniels
Tacoma, Wash., April 18 - Lai Fung Holdings Ltd. priced RMB 1.8 billion of 6 7/8% notes (B1/B+/) due 2018, according to a company announcement.
DBS Bank Ltd., Hong Kong and Shanghai Banking Corp. Ltd. and J.P. Morgan Securities (Asia Pacific) Ltd. are the bookrunners.
The proceeds of the Regulation S deal will be used to refinance debt and for general corporate purposes.
Lai Fung Holdings is part of Hong Kong-based Lai Sun Group, a conglomerate.
| Issuer: | Lai Fung Holdings Ltd.
|
| Issue: | Notes
|
| Amount: | RMB 1.8 billion
|
| Maturity: | April 25, 2018
|
| Bookrunners: | DBS Bank Ltd., Hong Kong and Shanghai Banking Corp. Ltd. and J.P. Morgan Securities (Asia Pacific) Ltd.
|
| Coupon: | 6 7/8%
|
| Price: | Par
|
| Yield: | 6 7/8%
|
| Pricing date: | April 18
|
| Settlement date: | April 25
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B+
|
| Distribution: | Regulation S
|
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