NWG Natwest Group Plc

   By Carol Chan 
 

HONG KONG--State-owned rail investor Beijing Infrastructure Investment Co. is planning to sell U.S. dollar bonds through its offshore unit to help fund the development of Beijing's urban railway transit system, according to a term sheet seen Thursday by The Wall Street Journal.

The company is selling the benchmark-sized U.S. dollar bonds via two tranches. It has set price guidance to yield about 190 basis points above comparable U.S. Treasurys for the three-year tranche and has set price guidance to yield about 195 basis points above comparable U.S. Treasurys for the five-year tranche, according to the term sheet.

The company has hired the Royal Bank of Scotland PLC and HSBC Holdings PLC as joint global coordinators for the bond issue, the term sheet said.

Write to Carol Chan at carol.chan@wsj.com

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