By Rebecca Melvin
Concord, N.H., Nov. 3 – ICBCIL Finance Co. Ltd. issued $1.35 billion of notes in two tranches under the company’s $20 billion medium-term note program, according to a notice on Wednesday.
The first tranche is $600 million of 1 5/8% notes due 2024.
The second tranche is $750 million of 2¼% notes due 2026.
The Regulation S notes have the benefit of a keepwell and liquidity support deed and a deed of asset purchase undertaking provided by ICBC Financial Leasing Co., Ltd.
The joint global coordinator, joint lead managers and joint bookrunners for the offering are ICBC, Agricultural Bank of China Ltd., Hong Kong Branch, ANZ, Bank of China, Bank of Communications, BNP Paribas, CCB International, DBS Bank Ltd., J.P. Morgan, BofA Securities, Mizuho Securities and HSBC.
Additional joint bookrunners and joint lead managers include CCB International and Industrial Bank Co. Ltd. Hong Kong Branch.
The proceeds will be used to fund ordinary asset purchase activities, refinancing (including refinancing of eligible wind power projects under ICBC Leasing's green finance framework) and other general corporate purposes. According to Fitch Ratings.
ICBC Financial Leasing is a leasing company based in Beijing.
| Issuer: | ICBCIL Finance Co. Ltd.
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| Issue: | Notes
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| Amount: | $1.35 billion
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| Bookrunners: | ICBC, Agricultural Bank of China Ltd., Hong Kong Branch, ANZ, Bank of China, Bank of Communications, BNP Paribas, CCB International, DBS Bank Ltd., J.P. Morgan, BofA Securities, Mizuho Securities, HSBC, CCB International and Industrial Bank Co. Ltd. Hong Kong Branch
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| Listing date: | Nov. 2
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| Distribution: | Regulation S
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| 2024 notes
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| Amount: | $600 million
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| Maturity: | 2024
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| Coupon: | 1 5/8%
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| 2026 notes
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| Amount: | $750 million
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| Maturity: | 2026
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| Coupon: | 2¼%
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