By Aleesia Forni
Virginia Beach, March 14 - China's Eastern Creating Investment Holdings Ltd., a subsidiary of Beijing Infrastructure Investment Co. Ltd., priced a $300 million issue of 3 5/8% five-year notes (expected ratings: A2/A-/A+) at 210 basis points over Treasuries, an informed source said.
Pricing was at 99.683 to yield 3.705%.
The notes are guaranteed by Beijing Infrastructure.
RBS and Wing Lung Bank were the global coordinators. RBS, Wing Lung Bank, ICBC (Asia) and ICBC International are the joint lead managers and joint bookrunners for the Regulation S deal.
| Issuer: | Eastern Creating Investment Holdings Ltd.
|
| Guarantor: | Beijing Infrastructure Investment Co. Ltd.
|
| Amount: | $300 million
|
| Description: | Notes
|
| Maturity: | 2019
|
| Bookrunners: | RBS, Wing Lung Bank, ICBC (Asia), ICBC International
|
| Coupon: | 3 5/8%
|
| Price: | 99.683
|
| Yield: | 3.705%
|
| Spread: | Treasuries plus 210 bps
|
| Price talk: | Treasuries plus 225 bps
|
| Trade date: | March 13
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Distribution: | Regulation S
|
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