China Huarong Asset Management to offer dollar-denominated notes

By Marisa Wong

Morgantown, W.Va., Nov. 7 – China Huarong Asset Management Co., Ltd. announced it plans to issue dollar-denominated guaranteed notes under its $11 billion medium-term note program.

The notes will be issued through wholly owned subsidiary Huarong Finance II Co., Ltd. and guaranteed by wholly owned subsidiary China Huarong International Holdings Ltd.

Pricing will be determined through a book-building exercise.

The company named as joint lead managers Hongkong and Shanghai Banking Corp. Ltd., Huarong International Securities Ltd., Standard Charted Bank, Wing Lung Bank Ltd., ABCI Capital Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, Australia and New Zealand Banking Group Ltd., Bank of China Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, BOCI Asia Ltd., Bocom International Securities Ltd., CCB International Capital Ltd., CLSA Ltd., China Minsheng Banking Corp. Ltd., Hong Kong Branch, Commerzbank AG, Credit Suisse Securities (Europe) Ltd., Goldman Sachs (Asia) LLC, Haitong International Securities Co. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Morgan Stanley & Co. International plc, and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch.

Proceeds will be used for working capital and general corporate purposes.

The MTN program was established on Jan. 5, 2015 and updated on May 20.

The state-owned asset manager is based in Beijing.

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