New Issue: China Everbright branch prices RMB 1.5 billion 2.95% notes, $500 million floaters at par

By William Gullotti

Buffalo, N.Y., Sept. 13 – China Everbright Bank Co., Ltd., via China Everbright Bank Co., Ltd., Hong Kong Branch, priced RMB 1.5 billion 2.95% notes due 2025 and $500 million of floating-rate notes due 2026 (//BBB) at par, according to a listing notice with appended pricing supplements on Wednesday.

Both series of Regulation S notes are issued under the bank’s $5 billion medium-term note program and are non-callable.

The floating-rate tranche bears interest at SOFR plus 63 basis points.

ABCI Capital Ltd., Agricultural Bank of China Ltd., Singapore Branch, Bank of China (Hong Kong) Ltd., CEB International Capital Corp., Ltd., China Citic Bank International Ltd., China Everbright Securities (HK) Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China Industrial Securities International Brokerage Ltd., China International Capital Corp., Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities (International) Corporate Finance Co., Ltd., Chiyu Banking Corp., Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co., Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co., Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, ICBC International Securities Ltd., Industrial and Commercial Bank of China (Macau) Ltd., Industrial and Commercial Bank of China Ltd., Dubai (DIFC) Branch, Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Nanyang Commercial Bank, Ltd., Natixis, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, SPDB International Capital Ltd. and Bank of East Asia, Ltd. are the joint bookrunners for the syndicated offering.

The issuer also acted as a joint global coordinator alongside Citigroup Global Markets Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., Bank of Communications Co., Ltd., Hong Kong Branch, China Construction Bank (Asia) Corp., Ltd., CCB International Capital Ltd. and Industrial and Commercial Bank of China (Asia) Ltd., with Citigroup also acting as stabilization manager.

Proceeds from the double issue will be used to repay matured overseas debt.

Listings for both tranches of Regulation S notes are expected on the Hong Kong Exchange effective Sept. 13.

China Everbright is a Hong Kong-based financial conglomerate in China.

Issuer:	China Everbright Bank Co., Ltd., Hong Kong Branch
Issue:	Notes
Global coordinators:	China Everbright Bank Co., Ltd., Hong Kong Branch, Citigroup Global Markets Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., Bank of Communications Co., Ltd., Hong Kong Branch, China Construction Bank (Asia) Corp., Ltd., CCB International Capital Ltd. and Industrial and Commercial Bank of China (Asia) Ltd.
Bookrunners:	ABCI Capital Ltd., Agricultural Bank of China Ltd., Singapore Branch, Bank of China (Hong Kong) Ltd., CEB International Capital Corp., Ltd., China Citic Bank International Ltd., China Everbright Securities (HK) Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China Industrial Securities International Brokerage Ltd., China International Capital Corp., Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities (International) Corporate Finance Co., Ltd., Chiyu Banking Corp., Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co., Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co., Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, ICBC International Securities Ltd., Industrial and Commercial Bank of China (Macau) Ltd., Industrial and Commercial Bank of China Ltd., Dubai (DIFC) Branch, Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Nanyang Commercial Bank, Ltd., Natixis, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, SPDB International Capital Ltd. and Bank of East Asia, Ltd.
Stabilization manager:	Citigroup Global Markets Ltd.
Counsel to issuer:	Linklaters (England, Hong Kong), King & Wood Mallesons (China)
Counsel to underwriters:	Clifford Chance (England), JunHe LLP (China)
Call features:	Non-callable
Pricing date:	Sept. 5
Issue date:	Sept. 12
Listing date:	Sept. 13
Rating:	Fitch: BBB
Distribution:	Regulation S
2025 notes
Amount:	RMB 1.5 billion
Maturity:	Sept. 12, 2025
Coupon:	2.95%
Price:	Par
Yield:	2.95%
ISIN:	HK0000950789
2026 floaters
Amount:	$500 million
Maturity:	Sept. 12, 2026
Coupon:	SOFR plus 63 bps
Price:	Par
Yield:	SOFR plus 63 bps
ISIN:	XS2674629170

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