Published on 2/6/2012 in the Prospect News Emerging Markets Daily.
New Issue: China's Sun Hung Kai sells $500 million 4½% notes due 2022 at 270 bps spread
By Christine Van Dusen
Atlanta, Feb. 6 - China's Sun Hung Kai Properties (Capital Market) Ltd. priced $500 million 4½% notes due Feb. 14, 2022 at 99 to yield 4.626%, or Treasuries plus 270 basis points, a market source said.
HSBC 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 (Capital Market) Ltd.
|
| Guarantor: | Sun Hung Kai Properties Ltd.
|
| Amount: | $500 million
|
| Maturity: | Feb. 14, 2022
|
| Description: | Senior notes
|
| Bookrunner: | HSBC
|
| Coupon: | 4½%
|
| Price: | 99
|
| Yield: | 4.626%
|
| Spread: | Treasuries plus 270 bps
|
| Trade date: | Feb. 6
|
| Settlement date: | Feb. 14
|
| Distribution: | Regulation S
|
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