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.