New Issue: Nanyang Commercial sells $700 million 3.8% tier 2 notes due 2029

By Sarah Lizee

Olympia, Wash., Nov. 20 – Hong Kong’s Nanyang Commercial Bank, Ltd. sold $700 million of 3.8% tier 2 subordinated notes due 2029 (Baa3), according to a notice of listing on the Stock Exchange of Hong Kong Ltd.

BOC International, CCB International, Cinda International, Mizuho Securities, BofA Securities and Goldman Sachs (Asia) LLC are the joint global coordinators and joint bookrunners and joint lead managers with CMB International, Bank of China (Hong Kong), China Construction Bank (Asia), AMTD, China Everbright Bank Hong Kong Branch and ICBC International.

Listing is expected for Thursday.

Nanyang Commercial is a Hong Kong-based bank.

Issuer:	Nanyang Commercial Bank, Ltd.
Issue:	Tier 2 subordinated notes
Amount:	$700 million
Maturity:	2029
Bookrunners:	BOC International, CCB International, Cinda International, Mizuho Securities, BofA Securities and Goldman Sachs (Asia) LLC (joint global coordinators), CMB International, Bank of China (Hong Kong), China Construction Bank (Asia), AMTD, China Everbright Bank Hong Kong Branch and ICBC International
Coupon:	3.8%
Announcement date:	Nov. 20
Listing date:	Nov. 21
Rating:	Moody’s: Baa3
Distribution:	Regulation S

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.