Kerry prices debut dollar bond deal

Sole lead Goldman Sachs sells $420 million in bonds for Hong Kong debut issuer Kerry Properties.

Hong KongÆs Kerry Properties completed its debut deal in the offshore debt capital markets, pricing a senior unsecured $420 million 10-year bullet deal on Friday night August 18. The deal was led on a sole basis by Goldman Sachs.

The lead launched the deal with guidance of 90bp over mid-swaps. However guidance was revised to 105bp over mid-swaps during the roadshow.

Final pricing for the Reg-S only deal came in at a re-offer of 99.592% with a semi-annual coupon...

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