China Construction Bank guides pricing for euro-denominated green bond to euribor plus 75-80 bps

By Rebecca Melvin

New York, Sept. 17 – China Construction Bank Luxembourg Branch has guided pricing for a euro-denominated benchmark three-year floating-rate green bond (expected rating: A1) to yield euribor plus 75 basis points to 80 bps, according to a news release on Monday.

Final pricing of the Regulation S green bond is expected on Monday.

The note is one of two tranches that China Construction Bank Corp. Ltd. plans to price. The other is a proposed offering of U.S. dollar-denominated Regulation S senior sustainability bonds.

Proceeds will be used to finance and/or refinance loans to customers as well as China Construction Bank’s own activities in eligible green projects.

China Construction Bank, Credit Agricole CIB, HSBC, BNP Paribas, Citigroup and Mizuho Securities are joint global coordinators, and BofA Merrill Lynch, Bank of China, China Minsheng Banking Corp. Ltd., Hong Kong Branch, Commonwealth Bank of Australia, CTBC Bank Hong Kong Branch, ING, KGI Asia, Standard Chartered Bank and UBS are also on the deal as joint lead managers and bookrunners.

The lender is based in Beijing.

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