By Marisa Wong
Morgantown, W.Va., Jan. 19 – Beijing Capital Land Ltd. announced a $400 million drawdown under its recently launched $1 billion guaranteed medium-term note and perpetual securities program. The company priced $400 million of 3 7/8% three-year notes at 99.72 on Wednesday.
The notes will be issued through wholly owned subsidiary Central Plaza Development Ltd. and guaranteed by another wholly owned subsidiary, International Financial Center Property Ltd. Beijing Capital Group Co., Ltd. is the keepwell and equity interest purchase undertaking provider.
Hongkong and Shanghai Banking Corp. Ltd., Australia and New Zealand Banking Group Ltd., China Citic Bank International Ltd., CMB International Securities Ltd., ICBC International Securities Ltd., Deutsche Bank AG, Hong Kong Branch and China Everbright Bank Co., Ltd., Hong Kong Branch are the joint bookrunners and joint lead managers. HSBC is the global coordinator.
Proceeds will be used to repay existing debt and for working capital and general corporate purposes.
The integrated property owner is based in Beijing.
| Issuer: | Central Plaza Development Ltd.
|
| Guarantor: | International Finance Center Property Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | $400 million
|
| Maturity: | Jan. 25, 2020
|
| Bookrunners: | Hongkong and Shanghai Banking Corp. Ltd., Australia and New Zealand Banking Group Ltd., China Citic Bank International Ltd., CMB International Securities Ltd., ICBC International Securities Ltd., Deutsche Bank AG, Hong Kong Branch and China Everbright Bank Co., Ltd., Hong Kong Branch
|
| Coupon: | 3 7/8%
|
| Price: | 99.72
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 25
|
© 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.
