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Tue, 24 Jul 2012
High Yield China fishery.
SINGAPORE--China Fishery Group Ltd. (B0Z.SG) is seeking to price a seven-year dollar bond today to yield around 9.75%, a person familiar with the matter told Dow Jones Newswires Tuesday. Initial price thoughts suggested a yield in the high 9% area. The size is expected to be $300 million to $350 million. The planned fixed-rate, senior unsecured Rule 144A/Reg S offering would be callable after four years, and is provisionally rated BB by Fitch Ratings, Ba3 by Moody's Investors Service and BB-minus by Standard & Poor's Ratings Service, the term sheet showed. The bond will be issued by CFG Investment S.A.C., a wholly-owned subsidiary of China Fishery Group. ANZ, Bank of America Merrill Lynch, Deutsche Bank, HSBC, Jefferies & Co., Rabo Securities and Standard Chartered are joint bookrunners on the planned deal.
Posted 07:25

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