China's Shanghai Zendai talks $150 million five-year notes at 10% area

By Paul A. Harris

St. Louis, May 29 - Shanghai Zendai Property Ltd. has set price talk for its $150 million offering of five-year senior notes (B2/B+/B+) at the 10% area, according to market sources.

Merrill Lynch & Co. is leading the Regulation S transaction.

Proceeds will be used for existing and new project developments, including land acquisitions and for working capital.

The issuer is a Hong Kong-based property development company.

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