Published on 7/18/2018 in the Prospect News Emerging Markets Daily.
New Issue: China Development Bank sells $500 million floating-rate notes due 2021
By Marisa Wong
Morgantown, W.Va., July 18 – China Development Bank Financial Leasing Co., Ltd. issued $500 million of guaranteed floating-rate notes due 2021, according to a notice.
The notes were issued through CDBL Funding 2 and are guaranteed by Metro Excel Ltd. with the benefit of a keepwell deed and asset purchase deed from China Development.
Standard Chartered Bank, HSBC, Bank of China, Bocom HK Branch, Haitong International, China Citic Bank International, DBS Bank, UBS, China Minsheng Banking, Hong Kong Branch, ICBC (Asia), China Securities International, Orient Securities (Hong Kong) and KGI (Asia) are joint lead managers and joint bookrunners for the Regulation S add-on. Standard Chartered Bank, HSBC, Bank of China, Bocom HK Branch, Haitong International, China Citic Bank International and DBS Bank are also joint global coordinators.
The notes were issued under the company’s $3 billion medium-term note program.
Listing of the latest notes is expected to take effect July 19.
The issuer is based in Shenzhen, China.
Issuer: | CDBL Funding 2
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Guarantor: | Metro Excel Ltd.
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Issue: | Medium-term notes
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Amount: | $500 million
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Maturity: | 2021
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Bookrunners: | Standard Chartered Bank, HSBC, Bank of China, Bocom HK Branch, Haitong International, China Citic Bank International, DBS Bank, UBS, China Minsheng Banking, Hong Kong Branch, ICBC (Asia), China Securities International, Orient Securities (Hong Kong) and KGI (Asia)
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Coupon: | Floating
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Listing date: | July 19
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Distribution: | Regulation S
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