Published on 9/16/2021 in the Prospect News Emerging Markets Daily.
New Issue: China’s CMB International sells three tranches of notes due 2024, 2026
By William Gullotti
Buffalo, N.Y., Sept. 16 – CMB International Leasing Management Ltd. priced $600 million of 1¼% notes due 2024, €100 million of ½% notes due 2024 and $300 million of 1¾% notes due 2026, according to a listing notice on Thursday.
The notes are issued under the company’s $20 billion medium-term note program, having the benefit of a keepwell and liquidity support deed and a deed of asset purchase undertaking by CMB Financial Leasing Co. Ltd.
BNP Paribas, HSBC, Agricultural Bank of China Ltd. Hong Kong Branch, ANZ, Bank of China, CMB International, CMB Wing Lung Bank Ltd. and Standard Chartered Bank are the joint global coordinators, joint lead managers and joint bookrunners for the offering.
Also serving as joint lead managers and joint bookrunners are Industrial Bank Co., Ltd. Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Citigroup, CTBC Bank, Shanghai Pudong Development Bank Hong Kong Branch and SMBC Nikko.
The listing for the Regulation S notes is expected on the Hong Kong Exchange effective Sept. 17.
The company provides financial leasing to businesses in China.
| Issuer: | CMB International Leasing Management Ltd.
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| Issue: | Notes
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| Amounts: | $900 million, €100 million
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| Bookrunners: | BNP Paribas, HSBC, Agricultural Bank of China Ltd. Hong Kong Branch, ANZ, Bank of China, CMB International, CMB Wing Lung Bank Ltd., Standard Chartered Bank, Industrial Bank Co., Ltd. Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Citigroup, CTBC Bank, Shanghai Pudong Development Bank Hong Kong Branch and SMBC Nikko
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| Pricing date: | Sept. 9
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| Listing date: | Sept. 17
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| 2024 dollar notes
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| Amount: | $900 million
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| Maturity: | 2024
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| Coupon: | 1¼%
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| 2024 euro notes
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| Amount: | €100 million
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| Maturity: | 2024
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| Coupon: | ½%
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| 2026 notes
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| Amount: | $300 million
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| Maturity: | 2026
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| Coupon: | 1¾%
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