By Christine Van Dusen
Atlanta, March 5 - Hong Kong's Swire Properties MTN Financing priced $500 million 2¾% notes due March 7, 2020 (A2/A-/A) at 99.219 to yield Treasuries plus 165 basis points, a market source said.
BofA Merrill Lynch, HSBC and JPMorgan were the bookrunners for the Regulation S deal.
The notes were issued under Swire Properties MTN Financing's $3 billion medium-term note program.
The proceeds will be used for working capital.
Swire Properties is a commercial, retail and residential property developer and manager.
| Issuer: | Swire Properties MTN Financing Ltd.
|
| Amount: | $500 million
|
| Maturity: | March 7, 2020
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, HSBC, JPMorgan
|
| Coupon: | 2¾%
|
| Price: | 99.219
|
| Spread: | Treasuries plus 165 bps
|
| Trade date: | March 4
|
| Settlement date: | March 7
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
| Distribution: | Regulation S
|
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