By Christine Van Dusen
Atlanta, June 21 – Wuxi Construction and Development Investment Co. Ltd. priced a $300 million issue of 3¼% notes due 2019 (expected ratings: /BBB/BBB+) at 99.983 to yield 3.256%, or Treasuries plus 240 basis points, a market source said.
The notes were talked at a spread of 260 bps over Treasuries.
Standard Chartered Bank, JPMorgan and Wing Lung Bank were the joint global coordinators and – along with China Minsheng Banking, Shanghai Pudong Development Bank, HSBC and Bocom International – the joint bookrunners and joint lead managers for the Regulation S deal.
Wuxi Construction is a Wuxi, China-based developer, operator, manager and builder of property.
| Issuer: | Wuxi Construction and Development Investment Co. Ltd.
|
| Amount: | $300 million
|
| Maturity: | 2019
|
| Description: | Notes
|
| Bookrunners: | Standard Chartered Bank, JPMorgan and Wing Lung Bank (joint global coordinators); China Minsheng Banking, Shanghai Pudong Development Bank, HSBC, Bocom International
|
| Coupon: | 3¼%
|
| Price: | 99.983
|
| Yield: | 3.256%
|
| Spread: | Treasuries plus 240 bps
|
| Trade date: | June 20
|
| Expected ratings: | S&P: BBB
|
| Fitch: BBB+
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 260 bps
|
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