China’s Times Property launches RMB 600 million tap of 10 3/8% notes due 2017 at 100.125

By Christine Van Dusen

Atlanta, Oct. 7 – China’s Times Property Holdings Ltd. launched a RMB 600 million tap of its 10 3/8% notes due July 16, 2017 (expected ratings: B2/B/) at 100.125, a market source said.

UBS, Haitong International, BOC International, BNP Paribas and Credit Suisse are the bookrunners for the Regulation S deal.

The proceeds will be used to refinance debt.

The notes could price as soon as Tuesday.

The property developer of mid-market to high-end residential properties is based in Guangzhou, China.

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