pricing-terms-coastal-greenland-bond

Pricing terms: Coastal Greenland bond

Coastal Greenland prices the first $100 million tranche of a $150 million bond-with-warrants. Details listed here, full commentary and market reaction to follow.

Issuer: Coastal Greenland
Rating of the bond: B2 stable (Moody's), B+ stable (Standard and Poor's)
Format: Reg-S registered only, guaranteed senior fixed rate note
Size: $100 million
Tenor: Five year non-call three
Coupon: 12% semi-annual 30/360
Price: 100
Warrants: 74,415 detachable 5-year warrants for $100,000 bonds purchased
Strike price: HK$2.46
Settlement: Unit price: 100 (Settle - bond price 93.00, warrant HK$0.729)
Settlement date: November 8, 2007
Maturity date: November 8, 2012
Bond calls: Callable at 106 in 2010, 103 in November 2011
Investor-type split: Corporate: 33% Banks: 10% Funds: 57%  
Geographic split: Asia: 90% Europe: 10%    
Number of investors: 17
Final book: $206 million
Bookrunners: HSBC

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