Shangri-La upsizes debut bond to $600 million

And Zoomlion prints a $400 million maiden deal.
<div style="text-align: left;">
The Shangri-La hotel in Huhhot, Inner Mongolia</div>
<div style="text-align: left;"> The Shangri-La hotel in Huhhot, Inner Mongolia</div>

Hong Kong-based hotel operator Shangri-La Asia last night priced its $600 million five-year debut bond amid a warm welcome from the market. The deal was unrated but that did not deter investors the total order book exceeded $7 billion from more than 200 accounts. This enabled the deal to be upsized to $600 million from an expected $500 million.

The bonds priced at Treasuries plus 375bp, which was at the tight end of the final guidance at Treasuries plus 375bp to 387.5bp. The initial guidance was in the area of Treasuries plus 400bp. Bank of China, Credit Agricole, HSBC and Morgan Stanley were joint bookrunners.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222