China Development Bank launches $1.5 billion three-, five-year notes, €800 million four-year notes

By Rebecca Melvin

New York, Dec. 4 – China Development Bank launched $1.5 billion of three-year and five-year floating-rate notes and €800 million of four-year fixed-rate notes on Tuesday, according to a syndicate sources. Final pricing was expected later in the session.

A $1 billion tranche of three-year floaters launched at Libor plus 63 basis points, which was trimmed from initial price talk of Libor plus 85 bps.

The $500 million tranche of five-year floaters launched at Libor plus 73 bps, and that pricing was cut from initial talk of Libor plus 95 bps.

The €800 million four-year notes launched at mid-swaps plus 60 bps, which was trimmed from initial talk of mid-swaps plus 75 bps.

Bank of China, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications, China Construction Bank (Asia), HSBC, Standard Chartered Bank, Deutsche Bank, UBS, Mizuho Securities and ANZ were joint bookrunners and joint lead managers of the dollar tranches.

And Bank of China, China Construction Bank (Europe), HSBC, Standard Chartered Bank, BNP Paribas, Barclays, MUFG, Commerzbank, Deutsche Bank, and DZ Bank AG were bookrunners for the euro notes.

All of the issues were sold under Regulation S.

The lender is based in Shenzhen, China.

© 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.