Published on 12/1/2023 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: China Construction Bank Dubai issues $600 million floating-rate green notes due 2026
Chicago, Dec. 1 – China Construction Bank Corp. DIFC Branch (Dubai International Finance Centre) issued $600 million of floating-rate senior green notes due 2026 (A1), according to an offering document.
The non-callable bonds priced at par.
China Construction Bank (Asia) Corp. Ltd., CCB International Capital Ltd., China Construction Bank (Europe) SA, ABCI Capital Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China Ltd., London Branch, Bank of China (Hong Kong) Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, Bocom International Securities Ltd., China Citic Bank International Ltd., China Everbright Bank Co., Ltd., Hong Kong Branch, China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd., CLSA Ltd., CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co. Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, DBS Bank Ltd., Emirates NBD Bank PJSC, Guotai Junan Securities (Hong Kong) Ltd., Industrial and Commercial Bank of China (Asia) 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, Mizuho Securities Asia Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch and Standard Chartered Bank were the joint lead managers.
Proceeds will be used to finance or refinance loans to customers involved in as well as the bank’s own operational activities in eligible green projects.
The parent bank is based in Beijing.
Issuer: | China Construction Bank Corp. DIFC Branch
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Amount: | $600 million
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Issue: | Floating-rate senior green notes
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Maturity: | Nov. 30, 2026
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Bookrunners: | China Construction Bank (Asia) Corp. Ltd., CCB International Capital Ltd., China Construction Bank (Europe) SA, ABCI Capital Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China Ltd., London Branch, Bank of China (Hong Kong) Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, Bocom International Securities Ltd., China Citic Bank International Ltd., China Everbright Bank Co., Ltd., Hong Kong Branch, China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd., CLSA Ltd., CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co. Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, DBS Bank Ltd., Emirates NBD Bank PJSC, Guotai Junan Securities (Hong Kong) Ltd., Industrial and Commercial Bank of China (Asia) 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, Mizuho Securities Asia Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch and Standard Chartered Bank
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Trustee: | China Construction Bank (Asia) Corp. Ltd. as fiscal agent
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Counsel to issuer: | Linklaters and Global Law Office
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Counsel to underwriters: | Clifford Chance and Jingtian & Gongcheng
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Coupon: | SOFR plus 65 basis points
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Price: | Par
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Call features: | Non-callable
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Trade date: | Nov. 23
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Settlement date: | Nov. 30
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Rating: | Moody’s: A1
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Distribution: | Regulation S
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ISIN: | XS2723153883
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