New Issue: Citic Securities unit prices $300 million 3 3/8% guaranteed notes due 2025 at 99.65

By William Gullotti

Buffalo, N.Y., April 22 – Citic Securities International Co., Ltd.’s indirectly and wholly owned subsidiary, CSI MTN Ltd., priced $300 million 3 3/8% guaranteed notes due 2025 at 99.65 (BBB+), according to a listing notice with an appended offering circular on Friday.

The notes, issued under CSI’s recently established $3 billion medium-term note program, will be guaranteed by the parent company.

Beginning March 21, 2025, issuer may opt to redeem the notes early in whole, but not in part, at par plus interest.

CLSA, ICBC, Bank of China, Bank of Communications, China Citic Bank International, Citigroup and HSBC are the joint global coordinators, joint lead managers and joint bookrunners for the Regulation S offering.

Also serving as joint lead managers and joint bookrunners are Industrial Bank Co., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., Shanghai Pudong Development Bank, Agricultural Bank of China, CNCB Capital, Mizuho Securities, JPMorgan, Standard Chartered Bank, China Minsheng Banking Corp., Ltd., China Construction Bank (Asia), Nanyang Commercial Bank, China Everbright Bank and Yue Xiu Securities.

Proceeds will be used for working capital, for general corporate purposes and/or to refinance debt.

Application has been made to list the notes on the Hong Kong Exchange.

The issuer was incorporated in the British Virgin Islands on Dec. 30, 2021. The guarantor is wholly owned subsidiary of Citic Securities Co. Ltd., a state-owned conglomerate in China.

Issuer:	CSI MTN Ltd.
Guarantor:	Citic Securities International Co., Ltd.
Amount:	$300 million
Issue:	Guaranteed notes
Maturity:	April 21, 2025
Bookrunners:	CLSA, ICBC, Bank of China, Bank of Communications, China Citic Bank International, Citigroup, HSBC, Industrial Bank Co., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., Shanghai Pudong Development Bank, Agricultural Bank of China, CNCB Capital, Mizuho Securities, JPMorgan, Standard Chartered Bank, China Minsheng Banking Corp., Ltd., China Construction Bank (Asia), Nanyang Commercial Bank, China Everbright Bank and Yue Xiu Securities
Counsel to issuer:	Ashurst Hong Kong (England), Maples and Calder (Singapore) LLP (BVI)
Counsel to bookrunners:	Linklaters
Coupon:	3 3/8%
Price:	99.65
Call:	In whole, but not in part, at par plus interest after March 21, 2025
Pricing date:	April 12
Issue date:	April 21
Rating:	S&P: BBB+
Distribution:	Regulation S
ISIN:	XS2469032630

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