Chicago, Nov. 27 – China Overseas Finance (Cayman) VIII Ltd. priced $294 million 3.05% guaranteed notes (Baa1) due 2029, according to a listing notice.
The notes are guaranteed by China Overseas Land & Investment Ltd.
The issue is a drawdown on the company’s medium-term note program.
Joint global coordinators for the issue were BOC International, DBS Bank Ltd., HSBC and ICBC (Asia).
Bank of Communications, BNP Paribas and CMB Wing Lung Bank Ltd. acted as joint bookrunners.
Most of the proceeds of the Regulation S issue are expected to be used for refinancing.
China Overseas is a Hong Kong-based construction and development company.
| Issuer: | China Overseas Finance (Cayman) VIII Ltd.
|
| Guarantor: | China Overseas Land & Investment Ltd.
|
| Issue: | Guaranteed notes
|
| Amount: | $294 million
|
| Maturity: | 2029
|
| Joint global coordinators: | BOC International, DBS Bank Ltd., HSBC and ICBC (Asia)
|
| Joint bookrunners: | Bank of Communications, BNP Paribas and CMB Wing Lung Bank Ltd.
|
| Coupon: | 3.05%
|
| Pricing date: | Nov. 20
|
| Announcement date: | Nov. 27
|
| Listing date: | Nov. 28
|
| Rating: | Moody’s: Baa1
|
| Distribution: | Regulation S
|
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