Published on 9/10/2021 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: China Development Bank issues $500 million 5/8% three-year bonds
By Rebecca Melvin
Concord, N.H., Sept. 10 – China Development Bank Hong Kong Branch has issued $500 million of 5/8% three-year notes (expected rating: A1) under its $30 billion debt issuance program established by China Development Bank and China Development Bank Hong Kong Branch, according to an offering circular and pricing supplement.
The series 103 notes priced at 99.955 and are expected to be listed on the Hong Kong Exchange.
Managers of the Regulation S deal were Agricultural Branch of China Ltd. Hong Kong Branch, Australia and New Zealand Banking Group Ltd., Bank of China (Hong Kong) Ltd., Bank of China Ltd., Bank of Communications Co. Ltd. Hong Kong Branch, BNP Paribas, China Construction Bank (Asia) Corp. Ltd., China Everbright Bank Co. Ltd. Hong Kong Branch, CLSA Ltd, CMB Wing Lung Bank Ltd., Credit Agricole CIB, DMC Bank Ltd., HSBC Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Mizuho Securities Asia Ltd., Shanghai Pudong Development Bank Co. Ltd., Hong Kong Branch and Standard Chartered Bank.
Proceeds will be used to finance and/or refinance eligible green projects.
The issuer is a subsidiary of Beijing-based China Development Bank.
| Issuer: | China Development Bank Hong Kong Branch
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| Issue: | Notes, series 103
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| Amount: | $500 million
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| Maturity | Sept. 9, 2024
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| Managers: | Agricultural Branch of China Ltd. Hong Kong Branch, Australia and New Zealand Banking Group Ltd., Bank of China (Hong Kong) Ltd., Bank of China Ltd., Bank of Communications Co. Ltd. Hong Kong Branch, BNP Paribas, China Construction Bank (Asia) Corp. Ltd., China Everbright Bank Co. Ltd. Hong Kong Branch, CLSA Ltd, CMB Wing Lung Bank Ltd., Credit Agricole CIB, DMC Bank Ltd., HSBC Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Mizuho Securities Asia Ltd., Shanghai Pudong Development Bank Co. Ltd., Hong Kong Branch and Standard Chartered Bank
|
| Counsel to issuer: | Linklaters (Hong Kong), Legal Dept. of China Development Bank (China)
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| Counsel to dealers: | Clifford Chance (Hong Kong), King & Wood Mallesons (China)
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| Coupon: | 5/8%
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| Price: | 99.955
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| Call features: | None
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| Pricing date: | Sept. 2
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| Issue date: | Sept. 9
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| Listing: | Stock Exchange of Hong Kong Ltd.
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| Expected rating: | Moody’s: A1
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| Distribution: | Regulation S
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