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Far East Horizon issues notes in US$200M, 630M yuan tranches

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Far East Horizon issues notes in US$200M, 630M yuan tranches

Far East Horizon Ltd issued notes under its medium-term note program in two tranches.

The company said in a Feb. 27 release that it issued US$200 million worth of notes at a price of 99.827% of the instruments' aggregate nominal amount. The notes were priced with a coupon of 4.375%.

It also issued 630 million yuan of notes with a coupon of 4.90%.

Australia and New Zealand Banking Group Ltd., DBS Bank Ltd. and Standard Chartered Bank were the joint global coordinators and book runners for the U.S. dollar-denominated notes. Standard Chartered Bank was the sole global coordinator and book runner for the yuan-denominated issuance.

Far East Horizon plans to use the net proceeds from the offering for working capital and general corporate purposes.

As of Feb. 27, US$1 was equivalent to 6.32 Chinese yuan.