China Development Bank to sell dual-currency notes in three parts

By Rebecca Melvin

New York, Dec. 3 – China Development Bank plans to issue three-year and five-year dollar-denominated floating-rate senior notes and four-year euro-denominated fixed-rate notes, according to a syndicate source.

The tranches (A1) will be sold under Regulation S as part of the bank’s debt issuance program and are subject to market conditions.

The issuer has mandated Bank of China, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications, China Construction Bank (Asia), HSBC, Standard Chartered Bank, Deutsche Bank, UBS, Mizuho Securities and ANZ as joint bookrunners and joint lead managers of the dollar tranches.

It has mandated Bank of China, China Construction Bank (Europe), HSBC, Standard Chartered Bank, BNP Paribas, Barclays, MUFG, Commerzbank, Deutsche Bank, and DZ Bank AG as joint bookrunners and joint lead managers for the proposed offering of euro-denominated notes.

The prospective issuer is based in Shenzhen, China.

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