Beijing Enterprises sets talk for 10-, 30-year dollar benchmark notes

By Christine Van Dusen

Atlanta, May 4 - Beijing Enterprises Holdings Ltd. set price talk for its planned benchmark-sized issue of 10- and 30-year dollar-denominated notes (expected ratings: Baa1/A-/), a market source said.

The 10-year notes are being talked at the Treasuries plus 200 basis points area. The 30-year notes are being talked at 20 bps to 25 bps over the 10-year spread.

Merrill Lynch, HSBC, Morgan Stanley, Credit Suisse and UBS are the bookrunners for the Rule 144A and Regulation S notes, which are expected to price during the May 2 week through Mega Advance Investments Ltd.

Beijing Enterprises Holdings is a Hong Kong-based conglomerate with operations in gas transmission and distribution, water utilities, brewery operations and toll road operations.

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