New Issue: China's Rainbow Days prices RMB 3 billion notes due 2014, 2016

By Christine Van Dusen

Atlanta, June 23 - China's Rainbow Days Ltd. sold a RMB 3 billion two-tranche issue of notes due 2014 and 2016 in a Regulation S transaction on Thursday, a market source said.

The deal included RMB 1.4 billion 2% notes due June 30, 2014 that priced at par and RMB 1.6 billion 3% notes due June 30, 2016 that also priced at par.

Bank of China, Deutsche Bank and Standard Chartered Bank were the bookrunners for the notes, which are guaranteed by Shenzhen, China-based commercial bank China Merchants Bank Ltd.

Issuer:	Rainbow Days Ltd.
Guarantor:	China Merchants Bank Ltd.
Amount:	RMB 3 billion
Description:	Senior notes
Bookrunners:	Bank of China, Deutsche Bank, Standard Chartered Bank
Trade date:	June 23
Settlement date:	June 30
Distribution:	Regulation S
Three-year notes
Amount:	RMB 1.4 billion
Maturity:	June 30, 2014
Coupon:	2%
Price:	Par
Yield:	2%
Five-year notes
Amount:	RMB 1.6 billion
Maturity:	June 30, 2016
Coupon:	3%
Price:	Par
Yield:	3%

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