Published on 1/18/2023 in the Prospect News Emerging Markets Daily.
New Issue: International Far Eastern Leasing prices RMB 600 million 5½% notes due 2026 at par
By William Gullotti
Buffalo, N.Y., Jan. 18 – China’s International Far Eastern Leasing Co., Ltd. priced RMB 600 million of 5½% three-year notes at par, according to a listing notice and an offering circular on Wednesday.
China International Capital Corp., Bocom International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shanghai Pudong Development Bank Hong Kong Branch, CNCB Capital and CMB International are the joint lead managers and joint bookrunners, with China International and Bocom also acting as joint global coordinators.
Proceeds from the Regulation S offering will be used to replenish working capital.
Listing for the notes is expected on the Chongwa (Macao) Exchange effective Jan. 18.
The issuer is a financial service platform engaged in advisory services and equipment-based financial leasing across nine different industries.
| Issuer: | International Far Eastern Leasing Co., Ltd.
|
| Amount: | RMB 600 million
|
| Issue: | Notes
|
| Maturity: | Jan. 17, 2026
|
| Bookrunners: | China International Capital Corp., Bocom International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Shanghai Pudong Development Bank Hong Kong Branch, CNCB Capital and CMB International
|
| Trustee: | China Central Depository & Clearing Co., Ltd. (as principal paying agent, transfer agent and registrar)
|
| Counsel to issuer: | Fangda Partners (England), Tian Yuan Law Firm (China)
|
| Counsel to underwriters: | Clifford Chance (England), King & Wood Mallesons (China)
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Call: | For taxation reasons at par plus interest
|
| Put: | At 101 plus interest
|
| Pricing date: | Jan. 12
|
| Issue date: | Jan. 17
|
| Listing date: | Jan. 18
|
| 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.
