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.

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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