Franshion Properties returns for $500m five year

Jin Mao Tower Shanghai_230px
By Clare Hammond
13 Mar 2014

Franshion Properties made a successful return to the market this week with a $500m five year bond, and the firm is also lining up a spin-off of some of its assets on the Hong Kong exchange.

Dealers announced initial price guidance for the Reg S benchmark at 5.875% area on Wednesday morning, before pricing the deal overnight to yield 5.75%.

The issuer’s existing $300m 5.375% five year 2018s were the main comparable for the transaction, and were trading at 101.125, or a yield of ...

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