By Taylor Fox
New York, Sept. 10 – Hong Kong’s Nan Fung Treasury Ltd. priced $500 million of 5% guaranteed senior perpetual capital securities (ISIN: XS2226621840), according to a notice.
The notes (Baa3) are guaranteed by Nan Fung International Holdings Ltd.
Hongkong and Shanghai Banking Corp. Ltd., Goldman Sachs (Asia) LLC, J.P. Morgan Securities plc and UBS AG Hong Kong Branch are the bookrunners and lead managers.
Nan Fung International will use the proceeds for refinancing outstanding perpetual securities, according to Moody’s Investors Service.
Nan Fung is an investment holding company. Its main business is property development.
| Issuer: | Nan Fung Treasury Ltd.
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| Guarantor: | Nan Fung International Holdings Ltd.
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| Issue: | Guaranteed senior perpetual capital securities
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| Amount: | $500 million
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| Maturity: | Perpetual
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| Bookrunners: | Hongkong and Shanghai Banking Corp. Ltd., Goldman Sachs (Asia) LLC, J.P. Morgan Securities plc and UBS AG Hong Kong Branch
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| Coupon: | 5%
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| Issue date: | Sept. 10
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| Rating: | Moody’s: Baa3
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