By Marisa Wong
Morgantown, W.Va., June 29 – Modern Land (China) Co., Ltd. said it priced $130 million of 6½% senior notes due 2018 at par on Thursday.
Pricing for the dollar-denominated green bonds was determined through a bookbuilding exercise, as previously announced.
Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital, SPDB and Orient Securities (Hong Kong) are the joint global coordinators, joint bookrunners and joint lead managers for the Regulation S offering.
Proceeds will be used to refinance debt related to new and existing projects and businesses with environmental benefits.
HSBC is the green structuring adviser.
The property developer is based in Beijing.
| Issuer: | Modern Land (China) Co., Ltd.
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| Issue: | Senior notes
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| Amount: | $130 million
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| Maturity: | July 3, 2018
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| Coupon: | 6½%
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| Price: | Par
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| Yield: | 6½%
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| Bookrunners: | Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital, SPDB and Orient Securities (Hong Kong)
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| Put option: | At 101 upon change of control or delisting
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| Pricing date: | June 29
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| Distribution: | Regulation S
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