By Christine Van Dusen
Atlanta, Nov. 30 - Skysea International Capital Management - a subsidiary of Hong Kong's Industrial and Commercial Bank of China Ltd. - priced a $750 million issue of 4 7/8% notes due Dec. 7, 2021 (A1/A/) at 97.708 to yield Treasuries plus 310 basis points, a market source said.
The notes were talked at the Treasuries plus 320 bps area.
Barclays Capital, HSBC, ICBC International, Standard Chartered and UBS were the bookrunners for the Regulation S deal.
Proceeds will be used to develop ICBC's offshore leasing business.
Skysea is based in the British Virgin Islands.
| Issuer: | Skysea International Capital Management
|
| Amount: | $750 million
|
| Maturity: | Dec. 7, 2021
|
| Description: | Notes
|
| Bookrunners: | Barclays Capital, HSBC, ICBC International, Standard Chartered, UBS
|
| Coupon: | 4 7/8%
|
| Price: | 97.708
|
| Spread: | Treasuries plus 310 bps
|
| Trade date: | Nov. 30
|
| Settlement date: | Dec. 7
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 320 bps area
|
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