PRIMARY CREDIT WATCH

Car Inc. (699 HK)  Proposes to Issue Dollar-Denominated Senior Notes

(Bloomberg) — May price today.

• Issuer: CAR Inc.
• Guarantors: Certain non-PRC subsidiaries of the issuer
• Issuer ratings: Ba1/BB+/BB+
• Expected issue ratings: Ba1/BB+/BB+
• Reg S
• UOP: For capital expenditure and other GCP, including refinancing outstanding debt, to enhance capital structure

Sumitomo Mitsui Trust Hires Managers for Subordinated Bond Sale

(Bloomberg) — Daiwa says in a statement today.

• Issuer: Sumitomo Mitsui Trust Holdings Inc.
• Sale Managers: Daiwa, Nomura
• Pricing: Early Sept. or later
• Format: Perpetual subordinated bonds to be offered to qualified institutional investors

Peking University Taps USD 2018 Bond, IPT 100.125 Area

(Bloomberg) — May price today.

• Issuer: Dawn Victor Ltd.
• Guarantor: Founder Information (Hong Kong) Ltd.
• Keepwell deed and deed equity interest undertaking provider: Peking University Founder Group Co.
• Unrated, Reg S
• Existing notes: $500m 5.50% 2018
• Immediately fungible with existing issue upon settlement
• Maturity Date: 5 June 2018
• Coupon: 5.50%
• UOP: Working capital and GCP

Secondary price before announcement – 101.125.

Shanghai Electric to Sell $Bench 5Y Bonds, IPT +250bp Area

(Bloomberg) — May price today.

• Issuer: Shanghai Electric Power Finance Ltd.
• Guarantor: Shanghai Electric Power Co.
• Guarantor ratings: Baa2/BBB/BBB+
• Expected issue ratings: Baa2/BBB/BBB+
• Reg S

Indicative yield : 4.05%