pricing-terms-nine-dragons-paper

Pricing terms: Nine Dragons Paper

Chinese paper board producer Nine Dragons Paper priced its $300 million bond early this morning. Find below some of the information available on the deal. Commentary to follow tomorrow.

Rosie Slater

April 23, 2008

Issuer	Nine Dragons Paper Holdings
Rating of the bond	BBB-
Size	$300 million
Tenor	Five years
Yield	8%
Price	99.493
Spread	505.2bp over five-year Treasuries
Coupon	7.875%
Price guidance	500bp over five-year Treasuries
Maturity date	April 29, 2013
First coupon date	October 29, 2008
Bookrunners	Merrill Lynch

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