By Reshmi Basu
New York, July 31 - Property developer Megaworld Corp. sold $100 million of five-year bonds at 98.488 with a 7 7/8% coupon to yield 8¼% on Friday, according to a market source.
UBS managed the Regulation S transaction.
Proceeds will be used to fund its 25-hectare Newport City project, according to a statement filed by the company.
The issuer is based in Makati City, Philippines.
| Issuer: | Megaworld Corp.
|
| Amount: | $100 million
|
| Maturity: | 2011
|
| Issue: | Bonds
|
| Coupon: | 7 7/8%
|
| Issue price: | 98.488
|
| Yield: | 8¼%
|
| Pricing date: | July 28
|
| Manager: | UBS
|
| Distribution: | Regulation S
|
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