China’s CMB International Leasing updates $20 billion note program

By William Gullotti

Buffalo, N.Y., July 3 – CMB International Leasing Management Ltd. updated and listed its $20 billion one-year medium-term note program (A3/BBB+), according to a notice with an appended program circular on Monday.

Notes issued under the program have the benefit of a keepwell and liquidity support deed and a deed of asset purchase undertaking by CMB Financial Leasing Co. Ltd.

Bank of China Ltd., CMB International Capital Ltd. and Standard Chartered Bank are the arrangers and dealers for the program, with ANZ Banking Group Ltd., Citigroup Global Markets Ltd. and CMB Wing Lung Bank Ltd. serving as additional dealers.

HSBC Ltd. is the trustee.

Linklaters and Beijing DeHeng Law Offices are counsel to the issuer for program drawdowns, with Allen & Overy and JunHe LLP acting as counsel to the arrangers and dealers.

The Regulation S and Rule 144A program became effective on the Hong Kong Exchange on June 30.

The company provides financial leasing to businesses in China.

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