New bond issue: Times Property issued international bonds for USD 225.0m maturing in 2022 with a 5.75% coupon.

April 20, 2017 - Cbonds

 

Times Property issued international bonds for USD 225.0m maturing in 2022 with a 5.75% coupon. Bonds were sold at a price of 100% with an initial yield of 5.75%. Bookrunner: Citigroup, Deutsche Bank, Haitong International securities, JP Morgan, SPDB International Holdings Limited, UBS
Depository: Euroclear Bank, Clearstream Banking S.A..
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Issuer, issue numberTimes Property, 5.75% 26apr2022, USD
Type of debt instrumentInternational bonds
Issue statusoutstanding
Type of placementPublic
Par, currency of issueUSD 200,000
Amount225,000,000
ISINXS1602480334
End of placement04/19/2017
Initial issue price100
Yield at pricing5.75
Coupon5.75%
Coupon frequency2 time(s) per year
Settlement date04/26/2017
Maturity date04/26/2022
Issue ManagersBookrunner: Citigroup, Deutsche Bank, Haitong International securities, JP Morgan, SPDB International Holdings Limited, UBS Depository: Euroclear Bank, Clearstream Banking S.A. Trustee: Citicorp International Limited Paying agent: Citibank N.A. (London branch) Issuer Legal Adviser (International law): Sidley Austin Issuer Legal Adviser (Domestic law): Commerce & Finance, Appleby Arranger Legal Adviser (International law): Allen & Overy Arranger Legal Adviser (Domestic law): King & Wood Mallesons
Trading floorHong Kong S.E.
Issuer: Times Property
Outstanding issues:
3 issuesUSD880,000,000
Issuer rating:
Moody's Investors ServiceB1/PositiveLT- foreign currency03/07/2017
S&P Global RatingsB+/StableForeign Currency LT03/10/2014
S&P Global RatingsB+/StableLocal Currency LT03/10/2014
Fitch RatingsB+/PositiveLT Int. Scale (foreign curr.)01/11/2017
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150 000
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countries
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