By Rebecca Melvin
New York, Sept. 23 – China National Chemical Corp. Ltd. (ChemChina) priced $1.8 billion of five-, 10- and 30-year notes and a $600 million tranche of subordinated perpetual securities, according to Singapore Stock Exchange listing notices.
All the notes were issued by wholly owned subsidiary CNAC (HK) Finbridge Co. Ltd.
The $600 million of five-year notes priced with a 2% coupon; the $1 billion of 10-year notes priced with a 3% coupon; the $200 million of 30-year notes priced with a 3.7% coupon; and the $600 million of subordinated perpetual securities priced with a 3.35% coupon.
Barclays Bank plc, BNP Paribas, BOC International, China Citic Bank International, China Securities (International) Corporate Finance Co. Ltd., Credit Agricole CIB, Goldman Sachs (Asia) LLC, Haitong International Securities Co. Ltd., Merrill Lynch (Asia Pacific) Ltd., Natixis and UBS AG Hong Kong Branch were joint lead managers and joint bookrunners for the Regulation S deals.
ChemChina is a state-owned chemical company based in Beijing.
| Issuer: | CNAC (HK) Finbridge Co. Ltd.
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| Guarantor: | China National Chemical Corp. Ltd.
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| Amount: | $2.4 billion
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| Bookrunners: | Barclays Bank plc, BNP Paribas, BOC International, China Citic Bank International, China Securities (International) Corporate Finance Co. Ltd., Credit Agricole CIB, Goldman Sachs (Asia) LLC, Haitong International Securities Co. Ltd., Merrill Lynch (Asia Pacific) Ltd., Natixis and UBS AG Hong Kong Branch
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| Issue date: | Sept. 22
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| Listing date: | Sept. 24
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| Distribution: | Regulation S
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| 2025 notes
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| Amount: | $600 million
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| Issue: | Notes
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| Maturity: | 2025
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| Coupon: | 2%
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|
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| 2030 notes
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| Amount: | $1 billion
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| Issue: | Notes
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| Maturity: | 2030
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| Coupon: | 3%
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| 2050 notes
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| Amount: | $200 million
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| Issue: | Notes
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| Maturity: | 2050
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| Coupon: | 3.7%
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| Perpetual securities
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| Amount: | $600 million
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| Issue: | Subordinated perpetual securities
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| Maturity: | Perpetual
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| Coupon: | 3.35%
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