Published on 9/20/2018 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: China Construction Bank prices $1 billion three-year floaters at Libor plus 75 bps
By Rebecca Melvin
New York, Sept. 20 – China Construction Bank Corp. Hong Kong Branch sold $1 billion of three-year floating-rate notes at par to yield Libor plus 75 basis points, according to a news release.
The drawdown offering was made under a $15 billion medium-term note program of China Construction Bank Corp.
Bookrunners were China Construction Bank (Asia) Corp. Ltd., China Construction Bank (Europe) SA, CCB International Capital Ltd., Credit Agricole CIB, the Hongkong and Shanghai Banking Corp. Ltd., BNP Paribas, Citigroup Global Markets Ltd. and Mizuho Securities Asia Ltd., Merrill Lynch (Asia Pacific) Ltd., Bank of China Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, Commonwealth Bank of Australia, CTBC Bank Co., Ltd., ING Bank NV, Singapore Branch, KGI Asia Ltd., Standard Chartered Bank and UBS AG Hong Kong Branch.
Proceeds are earmarked to finance or refinance loans to customers and the bank’s own operational activities in eligible green projects and social projects.
The Regulation S notes will settle on Sept. 24 and be admitted to trading on the London Stock Exchange.
The lender is based in Beijing.
| Issuer: | China Construction Bank Corp. Hong Kong Branch
|
| Amount: | $1 billion
|
| Description: | Floating-rate notes
|
| Maturity: | Sept. 24, 2021
|
| Bookrunners: | China Construction Bank (Asia) Corp. Ltd., China Construction Bank (Europe) SA, CCB International Capital Ltd., Credit Agricole CIB, the Hongkong and Shanghai Banking Corp. Ltd., BNP Paribas, Citigroup Global Markets Ltd. and Mizuho Securities Asia Ltd., Merrill Lynch (Asia Pacific) Ltd., Bank of China Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, Commonwealth Bank of Australia, CTBC Bank Co., Ltd., ING Bank NV, Singapore Branch, KGI Asia Ltd., Standard Chartered Bank and UBS AG Hong Kong Branch
|
| Coupon: | Libor plus 75 bps
|
| Price: | Par
|
| Yield: | Libor plus 75 bps
|
| Announcement date: | Sept. 20
|
| Settlement date: | Sept. 24
|
| Expected rating: | Moody's: A1
|
| Distribution: | Regulation S
|
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