Yuzhou Properties builds larger, cheaper bond

Yuzhou Properties Company took full advantage of the Federal Reserve’s decision to delay tapering by issuing its largest US dollar denominated bond at the tightest borrowing costs since its debut in 2010.

  • By Frances J. Yoon
  • 30 Sep 2013

Initial guidance was announced at the 9% area for the $300m five non call three Reg S deal on September 27, which attracted more than $2bn from 160 accounts. That gave them room to tighten pricing to a final of 8.75% - its lowest ever coupon.

At that ...

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2 UniCredit 1,892.23 6 9.63%
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4 Bank of America Merrill Lynch 1,411.01 4 7.18%
5 ING 1,374.07 4 7.00%