By Christine Van Dusen
Atlanta, Jan. 23 - China's Longfor Properties Co. Ltd. printed a $500 million issue of 6¾% notes due Jan. 29, 2023 at par, a market source said.
The notes were talked at a yield in the 7% area.
Citigroup, HSBC, Morgan Stanley and Standard Chartered Bank were the bookrunners for the Regulation S deal.
The proceeds will be used for refinancing and for general corporate purposes.
The notes are non-callable for five years.
Longfor Properties is an investment holding company based in Beijing.
| Issuer: | Longfor Properties Co. Ltd.
|
| Amount: | $500 million
|
| Maturity: | Jan. 29, 2023
|
| Description: | Notes
|
| Bookrunners: | Citigroup, HSBC, Morgan Stanley, Standard Chartered Bank
|
| Coupon: | 6¾%
|
| Price: | Par
|
| Yield: | 6¾%
|
| Call features: | Non-callable for five years
|
| Trade date: | Jan. 22
|
| Settlement date: | Jan. 29
|
| Distribution: | Regulation S
|
| Price talk: | 7% area
|
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