YESTERDAY’S DEALS
KDB Gets >CNH2.4b Orders for CNH1.2b 3Y Bonds
KDB (Aa3/AA-) sells bonds at 4.10%.
- Order book >CNH2.4b with 55 orders
- By region
- Taiwan 47%
- Rest of Asia 49%
- Europe 4%
- By investor type
- Central banks/banks 63%
- Fund managers 36%
- Private banks 1%
CAR Gets $3b Orders for $300m 5.5NC3 Bonds
CAR Inc (699 HK) sells bonds at 6.25% yield vs IPT 6.625% area
Re-offer price 98.851.
Current Price : CARINC 6.125% 02/2021 99.05/99.35.
- By region
- Asia 84%
- Europe 16%
- By investor type
- Fund managers 82%
- Banks 4%
- Private banks 12%
- Sovereign wealth funds/others 2%
Shanghai Electric (Baa2/BBB+) Gets >$2.4b Orders for $500m 5Y Bonds
Coupon 3.625%. Re-offer price 99.575
Open price T+220/217
(Bloomberg) — Co. sells bonds at +220bp vs IPT +250bp area.
- Order book >$2.4b from >150 accounts
- By region
- Asia 92%
- EMEA 8%
- By investor type
- Banks 57%
- Fund managers 21%
- Insurers/pension funds/sovereigns 15%
- Private banks 7%
TODAY’S DEALS
Export Development Canada to Sell CNH 2.5Y Bond, IPT 3.53% Area
(Bloomberg) — May price today.
- Issuer: Export Development Canada
- Guarantee: full faith and credit of Canada
- Issuer rating: Aaa/AAA/–
- Issue rating: Aaa/AAA/–
- Size: CNH 500m (minimum)
- Payment date: Aug. 18, 2015
- Maturity date: Feb. 18, 2018 (2.5Y)
HNA Tourism to Sell CNH 2Y Bond, IPT 9.5% Area
(Bloomberg) — May price today.
- Issuer: HNA Tourism Finance Ltd.
- Guarantor: HNA Tourism Group Co.
- Reg S
- COC put: Put at 101%
- UOP: GCP
- JGCs: Haitong Intl, ABC Intl, Orient Capital (Hong Kong), Southwest Securities Intl, China Securities Intl
Oceanwide to Sell $Bench 5Put3 Bonds, IPT 9.875% Area
- Issuer: Oceanwide Holdings Intl 2015 Co.
- PRC parent guarantor: Oceanwide Holdings Co.
- HK parent guarantor: China Oceanwide Group Ltd.
- Subsidiary guarantors: Oceanwide Real Estate Intl Co. and Oceanwide Real Estate Intl Investment Co.
- Guarantor’s ratings: –/B/B
- Exp. issue ratings: –/B/B
- Type: Fixed rate senior notes
- Reg S
- Investor put option: At 100%, puttable at end of year 3
- Issuer optional redemption: Makewhole, or scheduled call
- Interest step-up: 0% – 1% at the option of the issuer at end of year 3, if not called
- UOP: For overseas GCP including but not limited to the development of the First and Mission Project located in San Francisco in the U.S.