By Christine Van Dusen
Atlanta, Jan. 15 - Bank of China (Hong Kong) Ltd. priced a two-tranche issue of $1.25 billion three- and five-year notes (expected ratings: A1//A), a market source said.
The deal included $750 million 2 1/8% notes due 2017 at 99.847 to yield Treasuries plus 142.5 basis points. The notes priced tighter than talk, set at Treasuries plus 155 bps.
The $500 million tranche of 3 1/8% notes due 2019 priced at 99.523 to yield Treasuries plus 162.5 bps, tighter than the talk set at a spread of 180 bps.
Bank of China and Citigroup were the bookrunners for the Regulation S deal.
The proceeds will be used for general corporate purposes.
| Issuer: | Bank of China (Hong Kong) Ltd.
|
| Amount: | $1.25 billion
|
| Description: | Senior notes
|
| Bookrunners: | Bank of China, Citigroup
|
| Trade date: | Jan. 13
|
| Settlement date: | Jan. 23
|
| Expected ratings: | Moody's: A1
|
| Fitch: A
|
| Distribution: | Regulation S
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 23, 2017
|
| Coupon: | 2 1/8%
|
| Price: | 99.847
|
| Spread: | Treasuries plus 142.5 bps
|
| Price talk: | Treasuries plus 155 bps
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 23, 2019
|
| Coupon: | 3 1/8%
|
| Price: | 99.523
|
| Spread: | Treasuries plus 162.5 bps
|
| Price talk: | Treasuries plus 180 bps
|
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