By Wendy Van Sickle
Columbus, Ohio, Jan. 28 – ICBCIL Finance Co. Ltd. priced $1.2 billion of notes in two tranches under the company’s $20 billion medium-term note program, according to a notice.
The first tranche is $700 million of 2 1/8% notes due 2025.
The second tranche is $500 million of 2.7% notes due 2027.
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, BofA Securities, CCB International, Citigroup, CMB International, HSBC, Industrial Bank Co. Ltd. Hong Kong Branch, JPMorgan, Mizuho Securities and MUFG.
DBS Bank Ltd. is an additional joint bookrunner and joint lead manager.
The proceeds will be used to fund ordinary asset purchase activities, refinancing and other general corporate purposes.
ICBC Financial Leasing is a leasing company based in Beijing.
| Issuer: | ICBCIL Finance Co. Ltd.
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| Amount: | $1.2 billion
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| Issue: | Notes
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| Bookrunners: | ICBC, Agricultural Bank of China Ltd., Hong Kong Branch, ANZ, Bank of China, Bank of Communications, BNP Paribas, BofA Securities, CCB International, Citigroup, CMB International, HSBC, Industrial Bank Co. Ltd. Hong Kong Branch, JPMorgan, Mizuho Securities, MUFG and DBS Bank Ltd.
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| Pricing date: | Jan. 20
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| Rating: | Fitch: A
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| Distribution: | Regulation S
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| 2025 notes
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| Amount: | $700 million
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| Maturity: | 2025
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| Coupon: | 2 1/8%
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|
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| 2027 notes
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| Amount: | $500 million
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| Maturity: | 2027
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| Coupon: | 2.7%
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