Published on 6/24/2020 in the Prospect News Emerging Markets Daily.
New Issue: Bank of China Hong Kong prices $1 billion of notes in two tranches
By Wendy Van Sickle
Columbus, Ohio, June 24 – Bank of China (Hong Kong) Ltd. priced $1 billion of notes (A/A) in two tranches, according to a listing notice.
The deal included $400 million of floating-rate notes due 2023 and a second tranche of $600 million 1¼% notes due 2025.
The notes were issued under the bank’s $40 billion medium-term note program.
Proceeds will be used for general corporate purposes.
Joint global coordinators were Bank of China, Credit Agricole CIB, HSBC and J.P. Morgan.
Joining them as joint lead managers and joint bookrunners were Agricultural Bank of China Ltd., Hong Kong Branch, ANZ, Bank of Communications, Barclays, BofA Securities, China Construction Bank (Asia), China Everbright Bank Hong Kong Branch, China International Capital Corp. China Minsheng Banking Corp., Ltd., Hong Kong Branch, Citigroup, Goodbody, ICBC, Standard Chartered Bank, Shanghai Pudong Development Bank Hong Kong Branch and Wells Fargo Securities.
The bank is based in Hong Kong.
| Issuer: | Bank of China (Hong Kong) Ltd.
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| Amount: | $1 billion
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| Description: | Floating-rate notes and fixed-rate notes
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| Joint global coordinators: | Bank of China, Credit Agricole CIB, HSCB and J.P. Morgan
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| Joint bookrunners: | Agricultural Bank of China Ltd., Hong Kong Branch, ANZ, Bank of Communications, Barclays, BofA Securities, China Construction Bank (Asia), China Everbright Bank Hong Kong Branch, China International Capital Corp. China Minsheng Banking Corp., Ltd., Hong Kong Branch, Citigroup, Goodbody, ICBC, Standard Chartered Bank, Shanghai Pudong Development Bank Hong Kong Branch and Wells Fargo Securities
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| Settlement date: | June 26
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| Ratings: | S&P: A
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| Fitch: A
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| Floating-rate notes
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| Amount: | $400 million
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| Maturity: | 2023
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| Fixed-rate notes
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| Amount: | $600 million
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| Maturity: | 2025
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| Coupon: | 1¼%
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