By Aleesia Forni
Columbus, Ohio, July 30 - Shui On Development (Holding) Ltd. priced a $400 million add-on to its 9¾% notes due 2015 at 102.785, according to a syndicate source.
Deutsche Bank, Standard Chartered Bank and UBS were the bookrunners.
The add-on is being undertaken in order to fund the company's expansion and growth plan, according to a company news release.
Shui On originally priced $400 million of the notes on Feb. 9 and a $75 million tap on Feb. 2.
Shui On Development's parent company, Shui On Land Ltd., is a Shanghai-based property developer.
| Issuer: | Shui On Development (Holding) Ltd.
|
| Guarantor: | Shui On Land Ltd.
|
| Issue: | Senior notes (add-on to $400 million priced on Feb. 9)
|
| Amount: | $400 million
|
| Maturity: | Feb. 16, 2015
|
| Bookrunners: | Deutsche Bank, Standard Chartered Bank, UBS
|
| Coupon: | 9¾%
|
| Price: | 102.785
|
| Trade date: | July 30
|
| Distribution: | Regulation S
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