Published on 12/22/2021 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: China Construction sells $500 million green floating-rate notes at SOFR plus 50 bps
By Devika Patel
Knoxville, Tenn., Dec. 22 – China Construction Bank Corp. is selling $500 million of three-year green floating-rate senior notes (A1) at par under its $15 billion medium-term note program, according to a prospectus.
The notes accrue interest at SOFR plus 50 basis points.
China Construction Bank, Agricultural Bank of China Ltd., Hong Kong branch, Bank of China, Bank of Communications, China Citic Bank International, China Everbright Bank, Hong Kong branch, China International Capital Corp., China Securities International, CLSA, CMB Wing Lung Bank Ltd., Credit Agricole CIB, HSBC, ICBC, Industrial Bank Co., Ltd., Hong Kong branch, KGI Asia, Mizuho Securities, Nanyang Commercial Bank, Natixis, Shanghai Pudong Development Bank, Hong Kong branch and Standard Chartered Bank are 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 lender is based in Beijing.
| Issuer: | China Construction Bank Corp.
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| Amount: | $500 million
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| Issue: | Green floating-rate senior notes
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| Maturity: | Dec. 21, 2024
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| Bookrunners: | China Construction Bank, Agricultural Bank of China Ltd., Hong Kong branch, Bank of China, Bank of Communications, China Citic Bank International, China Everbright Bank, Hong Kong branch, China International Capital Corp., China Securities International, CLSA, CMB Wing Lung Bank Ltd., Credit Agricole CIB, HSBC, ICBC, Industrial Bank Co., Ltd., Hong Kong branch, KGI Asia, Mizuho Securities, Nanyang Commercial Bank, Natixis, Shanghai Pudong Development Bank, Hong Kong branch and Standard Chartered Bank
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| Coupon: | SOFR plus 50 bps
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| Price: | Par
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| Call: | Non-callable
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| Pricing date: | Dec. 22
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| Rating: | Moody’s: A1
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| ISIN: | XS2422720305
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