China Shanshui launches US$400m bond, China

China Shanshui Cement Group has launched a US$400m dollar bond to yield 10.5%, a person familiar with the matter told Dow Jones Newswires on Thursday.

The planned five-year bond will be callable after three years, the person said.

Initial price thoughts had suggested a yield in the "high 10s."

Credit Suisse, Deutsche Bank, HSBC and JP Morgan are joint bookrunners and lead managers on the planned Rule 144a/ Reg S senior notes, which are provisionally rated BB-minus by Fitch Ratings and Standard & Poor's Ratings Services.

(Source: Dow Jones Chinese Financial Wire)