Published on 10/22/2020 in the Prospect News Emerging Markets Daily.
New Issue: Agricultural Bank of China sells $850 million of notes in tranches due 2023, 2025
Chicago, Oct. 22 – Agricultural Bank of China Ltd. sold $850 million of fixed-rate notes in two parts, according to a listing announcement.
A tranche of $500 million of 1% notes due 2023 and a second tranche of $350 million 1.2% notes due 2025 were sold under the bank’s $15 billion medium-term note program.
Joint global coordinators and joint lead managers for the Regulation S issue were Agricultural Bank of China Ltd. Hong Kong Branch, ABC International, Bank of China, Bank of Communications, China Construction Bank (Asia), Citigroup, CLSA, Credit Agricole CIB, HSBC and Standard Chartered Bank.
Joining as joint lead managers were BNP Paribas, China Everbright Bank Hong Kong Branch, China International Capital Corp., Chiyu Bank, CMB Wing Lung Bank Ltd., CMBC Capital, DBS Bank Ltd., Deutsche Bank, ICBC, Industrial Bank Co., Ltd. Hong Kong Branch, JPMorgan, Mizuho Securities and Nanyang Commercial Bank.
Based in Beijing, the commercial bank has branches in mainland China, Hong Kong and Singapore.
| Issuer: | Agricultural Bank of China Ltd.
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| Issue: | Notes
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| Amount: | $850 million
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| Bookrunners: | Agricultural Bank of China Ltd. Hong Kong Branch, ABC International, Bank of China, Bank of Communications, China Construction Bank (Asia), Citigroup, CLSA, Credit Agricole CIB, HSBC, Standard Chartered Bank, BNP Paribas, China Everbright Bank Hong Kong Branch, China International Capital Corp., Chiyu Bank, CMB Wing Lung Bank Ltd., CMBC Capital, DBS Bank Ltd., Deutsche Bank, ICBC, Industrial Bank Co., Ltd. Hong Kong Branch, JPMorgan, Mizuho Securities and Nanyang Commercial Bank
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| Pricing date: | Oct. 15
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| Listing date: | Oct. 23
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| Distribution: | Regulation S
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| 2023 notes
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| Amount: | $500 million
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| Maturity: | 2023
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| Coupon: | 1%
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| 2025 notes
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| Amount: | $350 million
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| Maturity: | 2025
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| Coupon: | 1.2%
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