Published on 9/1/2021 in the Prospect News Emerging Markets Daily.
New Issue: ABC’s Inventive Global sells $800 million guaranteed notes in tranches due 2024, 2026
By William Gullotti
Buffalo, N.Y., Sept. 1 – Inventive Global Investments Ltd. is listing $800 million guaranteed notes (A2) in two tranches, according to a listing notice Wednesday and an offering circular.
The company priced $500 million of 1.1% notes due 2024.
The company also priced a tranche of $300 million 1.6% notes due 2026.
Both tranches of notes, issued under the company’s new $3.5 billion medium term note program, are guaranteed by the parent company, ABC International Holdings Ltd.
The joint global coordinators, joint lead managers and joint bookrunners are Agricultural Bank of China, Standard Chartered Bank, Bank of China, China Construction Bank (Asia), Bank of Communications, China Citic Bank International and HSBC.
China International Capital Corp., ICBC International, Guotai Junan International, Huatai International, Shanghai Pudong Development Bank, CMB Wing Lung Bank Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., China Securities International, CNCB Capital, Nanyang Commercial Bank, Haitong International, GF Securities, Everbright Securities International, China Industrial Securities International, Dongxing Securities (Hong Kong), China Merchants Securities (HK) and China Zheshang Bank Co., Ltd. (Hong Kong Branch) are also serving as joint lead managers and joint bookrunners for the offering.
The Regulation S listing is expected to become effective Sept. 2.
Proceeds will be used by the issuer or loaned to the guarantor for general corporate purposes.
ABC International is owned by Agricultural Bank of China Ltd., a Beijing-based commercial bank with branches in mainland China, Hong Kong and Singapore.
| Issuer: | Inventive Global Investments Ltd.
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| Guarantor: | ABC International Holdings Ltd.
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| Issue: | Guaranteed notes
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| Bookrunners: | Agricultural Bank of China, Standard Chartered Bank, Bank of China, China Construction Bank (Asia), Bank of Communications, China Citic Bank International, HSBC, China International Capital Corp., ICBC International, Guotai Junan International, Huatai International, Shanghai Pudong Development Bank, CMB Wing Lung Bank Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., China Securities International, CNCB Capital, Nanyang Commercial Bank, Haitong International, GF Securities, Everbright Securities International, China Industrial Securities International, Dongxing Securities (Hong Kong), China Merchants Securities (HK) and China Zheshang Bank Co., Ltd. (Hong Kong Branch)
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| Counsel to issuer: | Linklaters (English), JunHe LLP (China), Ogier (BVI)
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| Counsel to underwriters: | Latham & Watkins LLP (English), DeHeng Law Offices (China)
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| Pricing date: | Aug. 24
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| Settlement date: | Sept. 1
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| Rating: | Moody’s: A2
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| Distribution: | Regulation S
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| 2024 Notes
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| Amount: | $500 million
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| Maturity: | Sept. 1, 2024
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| Coupon: | 1.1%
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| Price: | 99.871
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| ISIN: | XS2379486884
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| 2026 Notes
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| Amount: | $300 million
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| Maturity: | Sept, 1, 2026
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| Coupon: | 1.6%
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| Price: | 99.871
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| ISIN: | XS2379487189
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