By Marisa Wong
Morgantown, W.Va., July 27 – Beijing Capital Grand Ltd. announced it priced $400 million of three-year floating-rate notes at par on Thursday.
The exact interest rate was not disclosed in Friday’s announcement.
The notes (//BBB) will be issued through wholly owned subsidiary Trade Horizon Global Ltd. and guaranteed by the parent company.
HSBC, DBS Bank, China International Capital Corp., China Citic Bank International, CMB International, Guotai Junan International and Orient Securities (Hong Kong) are the initial subscribers for the Regulation S offering.
Proceeds will be used for general corporate and refinancing purposes.
The investment holding company is based in Beijing.
Issuer: | Trade Horizon Global Ltd.
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Guarantor: | Beijing Capital Grand Ltd.
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Issue: | Floating-rate guaranteed notes
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Amount: | $400 million
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Maturity: | Aug. 2, 2021
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Bookrunners: | HSBC, DBS Bank, China International Capital Corp., China Citic Bank International, CMB International, Guotai Junan International and Orient Securities (Hong Kong)
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Coupon: | Floating
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Price: | Par
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Change-of-control put: | At 101
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Pricing date: | July 26
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Settlement date: | Aug. 2
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Expected rating: | Fitch: BBB
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Distribution: | Regulation S
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