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Published on 3/4/2021 in the Prospect News Emerging Markets Daily.

New Issue: China Development Bank Financial Leasing sells $1 billion notes due 2024, 2026

By Marisa Wong

Los Angeles, March 4 – China Development Bank Financial Leasing Co., Ltd. issued $500 million 1 3/8% notes due 2024 and $500 million 2% notes due 2026 through CDBL Funding 2, according to a notice.

The notes are guaranteed by CDB Leasing (International) Co. Ltd. with the benefit of a keepwell and asset purchase deed provided by China Development Bank Leasing.

Standard Chartered Bank, Bank of China, Bank of Communications, China Citic Bank International, ICBC Singapore, DBS Bank Ltd., China International Capital Corp., China Minsheng Banking Corp. Ltd., Hong Kong Branch, KGI Asia, China Securities International, CTBC Bank, Credit Agricole CIB, United Overseas Bank Ltd., MUFG and Shanghai Pudong Development Bank Hong Kong Branch are the joint lead managers and joint bookrunners for the Regulation S offering.

Standard Chartered Bank, Bank of China, Bank of Communications, China Citic Bank, ICBC Singapore, DBS Bank and China International Capital are also the global coordinators.

The notes will be issued under the company’s $10 billion medium-term note program.

Listing of the notes on the Stock Exchange of Hong Kong Ltd. will be effective Friday.

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

Issuer:CDBL Funding 2
Guarantors:CDB Leasing (International) Co. Ltd. and China Development Bank Financial Leasing Co., Ltd. (keepwell deed provider)
Issue:Medium-term notes
Amount:$1 billion
Bookrunners:Standard Chartered Bank, Bank of China, Bank of Communications, China Citic Bank International, ICBC Singapore, DBS Bank Ltd., China International Capital Corp., China Minsheng Banking Corp. Ltd., Hong Kong Branch, KGI Asia, China Securities International, CTBC Bank, Credit Agricole CIB, United Overseas Bank Ltd., MUFG and Shanghai Pudong Development Bank Hong Kong Branch
Pricing date:Feb. 25
Listing date:March 5
Listing:Stock Exchange of Hong Kong Ltd.
Distribution:Regulation S
2024 notes
Amount:$500 million
Maturity:2024
Coupon:1 3/8%
2026 notes
Amount:$500 million
Maturity:2026
Coupon:2%

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