Published on 1/20/2021 in the Prospect News Emerging Markets Daily.
New Issue: China International Capital prices $1.5 billion notes due 2024, 2026
By Taylor Fox
New York, Jan. 20 – China International Capital Corp. Ltd. priced $1 billion 1 5/8% notes due 2024 at 99.988 and $500 million 2% notes due 2026 at 99.967, according to an announcement.
The notes (Baa1) will be issued through CICC Hong Kong Finance 2016 MTN Ltd. and guaranteed by its parent China International Capital Corp. (Hong Kong) Ltd., which is a wholly owned subsidiary of China International Capital Corp.
The notes will be issued under the company’s $10 billion guaranteed medium-term note program.
CICC HK Securities, Citigroup, Standard Chartered Bank, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China, CCB International, China Citic Bank International, China Everbright Bank Hong Kong Branch, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch, Orient Securities (Hong Kong) and Shanghai Pudong Development Bank Hong Kong Branch are joint bookrunners and joint lead managers.
CICC HK Securities, Citigroup and Standard Chartered Bank are also joint global coordinators.
Proceeds from the Regulation S offering will be used to repay existing indebtedness and for working capital and other general corporate purposes.
The financial services company is based in Beijing.
| Issuer: | CICC Hong Kong Finance 2016 MTN Ltd.
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| Guarantor: | China International Capital Corp. (Hong Kong) Ltd.
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| Issue: | Notes
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| Amount: | $1.5 billion
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| Bookrunners: | CICC HK Securities, Citigroup, Standard Chartered Bank, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of China, CCB International, China Citic Bank International, China Everbright Bank Hong Kong Branch, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch, Orient Securities (Hong Kong) and Shanghai Pudong Development Bank Hong Kong Branch
|
| Pricing date: | Jan. 20
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| Settlement date: | Jan. 26
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| Rating: | Moody’s: Baa1
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| Distribution: | Regulation S
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| 2024 notes
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| Amount: | $1 billion
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| Maturity: | Jan. 26, 2024
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| Coupon: | 1 5/8%
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| Price: | 99.988
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|
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| 2026 notes
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| Amount: | $500 million
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| Maturity: | Jan. 26, 2026
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| Coupon: | 2%
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| Price: | 99.967
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