China’s Sino-Ocean Land sets talk for five-, 12-year dollar notes

By Christine Van Dusen

Atlanta, Jan. 28 – China’s Sino-Ocean Land Holdings Ltd. set talk for a two-tranche offering of dollar-denominated notes due in five and 12 years (/BBB-/BBB-), a market source said.

The five-year notes are expected to print with a spread of about 370 basis points over Treasuries.

The 12-year notes were talked in the Treasuries plus 435 bps area.

HSBC, Goldman Sachs, JPMorgan and Morgan Stanley are the joint global coordinators for the Regulation S deal and bookrunners with Bank of China, BNP Paribas, Deutsche Bank, DBS and Wing Lung Bank.

The proceeds will be used to repay existing debt and for general corporate purposes.

The notes will include a change-of-control put at 101%.

Sino-Ocean Land is a Beijing-based property developer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.