China Huarong Asset Management plans dollar-denominated notes

By Marisa Wong

Morgantown, W.Va., May 23 – China Huarong Asset Management Co., Ltd. announced it plans to issue dollar-denominated guaranteed notes under its $11 billion medium-term note program.

The notes will be issued through wholly owned subsidiary Huarong Finance II Co., Ltd. and guaranteed by wholly owned subsidiary China Huarong International Holdings Ltd.

Pricing will be determined through a book-building exercise.

The company named as joint lead managers Credit Suisse Securities (Europe) Ltd., Standard Charted Bank, Wing Lung Bank Ltd., CMB International Securities Ltd., Huarong International Securities Ltd., ABCI Capital Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, BOCI Asia Ltd., Bocom International Securities Ltd., CCB International Capital Ltd., China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd., Deutsche Bank AG, Singapore Branch, Haitong International Securities Co. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., J.P. Morgan Securities plc, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch and Hongkong and Shanghai Banking Corp. Ltd.

Proceeds will be used for working capital and general corporate purposes.

The MTN program was established on Jan. 5, 2015 and updated on May 20.

The state-owned asset manager is based in Beijing.

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