New Issue: China's Lenovo sells $1.5 billion 4.7% five-year notes at 300 bps over Treasuries

By Christine Van Dusen

Atlanta, April 29 - China's Lenovo Group Ltd. sold $1.5 billion 4.7% notes due May 8, 2019 at 99.819 to yield 4.741%, or Treasuries plus 300 basis points, a market source said.

The notes were talked at a spread in the 305 bps area.

Citigroup, ANZ, Bank of China, Barclays, BofA Merrill Lynch, BNP Paribas, Credit Suisse, DBS Bank Ltd., Mitsubishi UFJ Securities, Mizuho Securities, RBS and Standard Chartered Bank were the joint lead managers and joint bookrunners for the Regulation S deal. Citigroup was the global coordinator.

Proceeds will be used for general corporate purposes, including working capital, and to fund any acquisition activities.

Lenovo is a Beijing-based multinational technology company.

Issuer:	Lenovo Group Ltd.
Amount:	$1.5 billion
Maturity:	May 8, 2019
Description:	Notes
Bookrunners:	Citigroup, ANZ, Bank of China, Barclays, BofA Merrill Lynch, BNP Paribas, Credit Suisse, DBS Bank Ltd., Mitsubishi UFJ Securities, Mizuho Securities, RBS, Standard Chartered Bank
Coupon:	4.7%
Price:	99.819
Yield:	4.741%
Spread:	Treasuries plus 300 bps
Trade date:	April 29
Settlement date:	May 8
Distribution:	Regulation S
Price talk:	Treasuries plus 305 bps area

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