Published on 11/4/2020 in the Prospect News Emerging Markets Daily.
New Issue: China Development Bank Financial sells $500 million 1½% notes due 2023
By Marisa Wong
Los Angeles, Nov. 4 – China Development Bank Financial Leasing Co., Ltd. priced $500 million of 1½% notes due 2023 (//A+) under its $3 billion medium-term note program, according to a notice.
The notes were issued by CDBL Funding 1 and are guaranteed by CDB Aviation Lease Finance DAC with the benefit of a keepwell and asset purchase deed provided by China Development Bank Financial Leasing.
Standard Chartered Bank, Bank of Communications, China Citic Bank International, Mizuho Securities, ANZ, Haitong International, ICBC Singapore, Guotai Junan International, CMB International, Natixis, China Minsheng Banking Corp. Ltd., Hong Kong Branch, ABC International, China Securities International and CTBC Bank are the joint lead managers and joint bookrunners for the Regulation S offering.
Listing of the bonds on the Stock Exchange of Hong Kong Ltd. will be effective Thursday.
China Development Bank Financial Leasing is a subsidiary of Beijing-based China Development Bank.
| Issuer: | CDBL Funding 1
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| Guarantor: | CDB Aviation Lease Finance DAC with the benefit of a keepwell and asset purchase deed provided by China Development Bank Financial Leasing Co., Ltd.
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| Issue: | Notes
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| Amount: | $500 million
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| Maturity: | 2023
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| Bookrunners: | Standard Chartered Bank, Bank of Communications, China Citic Bank International, Mizuho Securities, ANZ, Haitong International, ICBC Singapore, Guotai Junan International, CMB International, Natixis, China Minsheng Banking Corp. Ltd., Hong Kong Branch, ABC International, China Securities International and CTBC Bank
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| Coupon: | 1½%
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| Pricing date: | Oct. 28
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| Listing date: | Nov. 5
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| Listing: | Stock Exchange of Hong Kong Ltd.
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| Rating: | Fitch: A+
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| Distribution: | Regulation S
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