By Marisa Wong
Morgantown, W.Va., March 2 – Beijing Properties (Holdings) Ltd. priced $300 million of 4 3/8% three-year guaranteed bonds at 99.307 on Wednesday, according to a company announcement.
The bonds will be issued through wholly owned subsidiary Keen Idea Global Ltd. and guaranteed by the parent company.
Credit Suisse Securities (Europe) Ltd., DBS Bank Ltd. and Guotai Junan Securities (Hong Kong) Ltd. are the joint lead managers and bookrunners for the Regulation S offering.
Proceeds will be used for general working capital, corporate purposes and capital expenditures.
The property developer is based in Hong Kong.
| Issuer: | Keen Idea Global Ltd.
|
| Guarantor: | Beijing Properties (Holdings) Ltd.
|
| Issue: | Guaranteed bonds
|
| Amount: | $300 million
|
| Maturity: | March 8, 2020
|
| Coupon: | 4 3/8%
|
| Price: | 99.307
|
| Bookrunners: | Credit Suisse Securities (Europe) Ltd., DBS Bank Ltd. and Guotai Junan Securities (Hong Kong) Ltd.
|
| Call option: | In whole at make-whole price
|
| Pricing date: | March 1
|
| Settlement date: | March 8
|
| Distribution: | Regulation S
|
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