China’s ICBC Financial sets final talk for three-tranche offering of benchmark dollar notes

By Christine Van Dusen

Atlanta, May 12 – China’s ICBC Financial Leasing Co. Ltd. set final guidance for a three-tranche offering of benchmark-sized and dollar-denominated notes due in three, five and 10 years (expected ratings: /A-/A), a market source said.

The three-year notes were talked at a spread of Treasuries plus 157.5 basis points.

The five-year notes were talked at Treasuries plus 170 bps.

The 10-year notes were talked at Treasuries plus 200 bps.

ICBC, Morgan Stanley, Goldman Sachs, HSBC and ANZ are the joint global coordinators and – with Citigroup, BofA Merrill Lynch and Wells Fargo Securities – joint bookrunners and lead managers for the Rule 144A and Regulation S deal.

The proceeds will be used for general corporate purposes.

The leasing company is based in Beijing.

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