By Christine Van Dusen
Atlanta, Oct. 9 - Sunac China Holdings Ltd. priced $400 million five-year notes (/BB-/BB-) at par to yield 12½%, a market source said.
Deutsche Bank, Bank of America Merrill Lynch and Citigroup were the bookrunners for the Regulation S deal.
Proceeds will be used to finance new land acquisitions and for general corporate purposes.
Sunac China Holdings is a Tianjin, China-based residential and commercial property developer.
| Issuer: | Sunac China Holdings Ltd.
|
| Amount: | $400 million
|
| Maturity: | Oct. 16, 2017
|
| Description: | Senior notes
|
| Bookrunners: | Deutsche Bank, Bank of America Merrill Lynch, Citigroup
|
| Coupon: | 12½%
|
| Price: | Par
|
| Yield: | 12½%
|
| Trade date: | Oct. 9
|
| Settlement date: | Oct. 16
|
| Ratings: | Standard & Poor's: BB-
|
| Fitch: BB-
|
| Distribution: | Regulation S
|
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