New Issue: Agricultural Bank of China branch sells $300 million green floaters due 2027 at par

By William Gullotti

Buffalo, N.Y., April 22 – Agricultural Bank of China Ltd., via its London Branch, sold $300 million of floating-rate green notes due 2027 (A1), according to several documents on Monday.

The Regulation S notes are issued under the bank’s $15 billion medium-term note program.

The par-priced notes bear interest at SOFR plus 48 basis points and may not be called or put prior to maturity.

ABCI Capital Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., London Branch, Bank of Communications Co., Ltd., Hong Kong Branch, China Construction Bank (Asia) Corp., Ltd., HSBC Ltd., Industrial and Commercial Bank of China (Asia) Ltd., J.P. Morgan Securities plc, Standard Chartered Bank, Agricultural Bank of China Ltd., Singapore Branch, Bank of China (Hong Kong) Ltd., China Citic Bank International Ltd., China Construction Bank (Europe) SA, China Everbright Bank Co., Ltd., Hong Kong Branch, China International Capital Corp. Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities (International) CFC Ltd., CLSA Ltd., CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, DBS Bank Ltd., Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co., Ltd., ICBC Standard Bank plc, Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd., Hong Kong Branch and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch are the managers for the offering, with ABC, Agricultural Bank’s Hong Kong Branch, Bank of China’s London Branch, Bank of Communications, China Construction, HSBC, ICBC (Asia), JPMorgan and Standard Chartered also acting as joint global coordinators.

Proceeds will be used to finance and/or refinance eligible green projects.

Listing on the international securities market of the London Exchange is expected to become effective April 23.

Based in Beijing, the commercial bank has branches in mainland China, Hong Kong and Singapore.

Issuer:	Agricultural Bank of China Ltd., London Branch
Amount:	$300 million
Issue:	Green notes
Maturity:	April 22, 2027
Managers:	ABCI Capital Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., London Branch, Bank of Communications Co., Ltd., Hong Kong Branch, China Construction Bank (Asia) Corp., Ltd., HSBC Ltd., Industrial and Commercial Bank of China (Asia) Ltd., J.P. Morgan Securities plc, Standard Chartered Bank, Agricultural Bank of China Ltd., Singapore Branch, Bank of China (Hong Kong) Ltd., China Citic Bank International Ltd., China Construction Bank (Europe) SA, China Everbright Bank Co., Ltd., Hong Kong Branch, China International Capital Corp. Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities (International) CFC Ltd., CLSA Ltd., CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, DBS Bank Ltd., Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Co., Ltd., ICBC Standard Bank plc, Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd., Hong Kong Branch and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch
Trustee:	China Construction Bank (Asia) Corp., Ltd. (as fiscal agent, paying agent, transfer agent and registrar)
Counsel to issuer:	Slaughter & May (England)
Counsel to underwriters:	Linklaters (England), King & Wood Mallesons (China)
Coupon:	SOFR plus 48 bps
Price:	Par
Yield:	SOFR plus 48 bps
Call:	Non-callable
Pricing date:	April 16
Issue date:	April 22
Listing date:	April 23
Rating:	Moody’s: A1
Distribution:	Regulation S
ISIN:	XS2807095810

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