By Christine Van Dusen
Atlanta, Oct. 24 - Hong Kong's Sun Hung Kai Properties (Capital Market) Ltd. priced $500 million 3½% notes due Nov. 2, 2016 (A1/A+/) at 99.901 to yield Treasuries plus 245 basis points, a market source said.
The notes priced in line with guidance, set at Treasuries plus 245 bps.
Standard Chartered Bank was the bookrunner for the Regulation S notes.
The notes were guaranteed by Sun Hung Kai Properties Ltd., a Hong Kong-based property developer.
| Issuer: | Sun Hung Kai Properties Ltd.
|
| Amount: | $500 million
|
| Maturity: | Nov. 2, 2016
|
| Description: | Senior notes
|
| Bookrunners: | Standard Chartered Bank
|
| Coupon: | 3½%
|
| Price: | 99.901
|
| Spread: | Treasuries plus 245 bps
|
| Trade date: | Oct. 24
|
| Settlement date: | Nov. 2
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 245 bps
|
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