China Development Bank unit launches $10 billion note program

By William Gullotti

Buffalo, N.Y., June 30 – China Development Bank Financial Leasing Co., Ltd. listed a $10 billion medium-term note program, according to a listing notice.

Under the program, China Development Bank Financial Leasing will be responsible for the direct issuance notes, and CDBL Funding 2 will issue the KW notes.

Notes issued under the Regulation S program are guaranteed by CDB Leasing (International) Co. Ltd. with the benefit of a keepwell and asset purchase deed provided by China Development Bank Financial Leasing.

The arranger for the program is Standard Chartered Bank.

Standard Chartered Bank, Bank of China, Bank of Communications, China Citic Bank International, DBS Bank Ltd. and China Minsheng Banking Corp., Ltd., Hong Kong Branch are serving as dealers.

The program is expected to become effective July 2.

The issuer is a subsidiary of Beijing-based China Development Bank.

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