By Christine Van Dusen
Atlanta, May 28 – China’s Guangzhou Communications Investment Group Co. Ltd. priced $400 million 3% notes due June 4, 2018 (Baa2//A-) at 99.872 to yield 3.045%, or Treasuries plus 205 basis points, a market source said.
The notes were talked at a spread in the 230 bps area
DBS and Deutsche Bank were the bookrunners for the Regulation S deal, which was issued by Express (BVI) 2015 Ltd.
The notes include a change-of-control put at 101%.
The proceeds will be used for working capital and general corporate purposes.
The issuer invests in and manages transportation projects.
| Issuer: | Express (BVI) 2015 Ltd.
|
| Amount: | $400 million
|
| Maturity: | June 4, 2018
|
| Description: | Senior notes
|
| Bookrunners: | DBS, Deutsche Bank
|
| Coupon: | 3%
|
| Price: | 99.872
|
| Yield: | 3.045%
|
| Spread: | Treasuries plus 205 bps
|
| Change-of-control put: | 101%
|
| Trade date: | May 27
|
| Settlement date: | June 4
|
| Ratings: | Moody’s: Baa2
|
| Fitch: A-
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 230 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
