Published on 10/31/2011 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Bank of China prices $750 million 3¾% notes due 2016 to yield 3.814%
By Christine Van Dusen
Atlanta, Oct. 31 - Bank of China (Hong Kong) Ltd. sold $750 million of 3¾% notes due Nov. 8, 2016 (expected ratings: Aa3/A-) at 99.71 to yield 3.814%, or Treasuries plus 280 basis points, a market source said.
The notes priced at the low end of talk, set at Treasuries plus 280 to 285 bps.
BOC International, Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal.
| Issuer: | Bank of China (Hong Kong) Ltd.
|
| Amount: | $750 million
|
| Maturity: | Nov. 8, 2016
|
| Description: | Notes
|
| Bookrunners: | BOC International, Citigroup, Deutsche Bank
|
| Coupon: | 3¾%
|
| Price: | 99.711
|
| Yield: | 3.814%
|
| Spread: | Treasuries plus 280 bps
|
| Trade date: | Oct. 31
|
| Settlement date: | Nov. 8
|
| Expected ratings: Moody's: Aa3
|
| Standard & Poor's: A-
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | Treasuries plus 280 to 285 bps
|
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