New Issue: China International Capital prices $650 million 5.42% notes due 2025

By William Gullotti

Buffalo, N.Y., Nov. 16 – China International Capital Corp. Ltd. priced $650 million of 5.42% notes due 2025 (//BBB+) at par, according to an announcement on Wednesday.

The notes are issued under the company’s $10 billion guaranteed medium-term note program by CICC Hong Kong Finance 2016 MTN Ltd. and guaranteed by China International Capital Corp. (International) Ltd. with the benefit of a keepwell deed provided by CICC.

CICC HK Securities, Citigroup, Standard Chartered Bank, ICBC (Asia), China Galaxy International, Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, China Citic Bank International, China Everbright Bank Hong Kong Branch, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Chiyu Banking Corp., Ltd., China Merchants Bank, CNCB Capital, Hua Xia Bank Co., Ltd., Hong Kong Branch, ICBC, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Shenwan Hongyuan (H.K.), SMBC Nikko and Bank of East Asia, Ltd. are the joint lead managers and joint bookrunners for the offering with CICC HK, Citigroup, Standard Chartered, ICBC and China Galaxy also serving as joint global coordinators.

Proceeds from the Regulation S notes will be used to repay debt, for working capital and for general corporate purposes of the guarantor and its subsidiaries.

Listing for the notes is expected on the Hong Kong Exchange effective Nov. 23.

The financial services company is based in Beijing.

Issuer:	CICC Hong Kong Finance 2016 MTN Ltd.
Guarantor:	China International Capital Corp. (International) Ltd.
Keepwell provider:	China International Capital Corp. Ltd.
Amount:	$650 million
Issue:	Notes
Maturity:	Nov. 22, 2025
Bookrunners:	CICC HK Securities, Citigroup, Standard Chartered Bank, ICBC (Asia), China Galaxy International, Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, China Citic Bank International, China Everbright Bank Hong Kong Branch, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Chiyu Banking Corp., Ltd., China Merchants Bank, CNCB Capital, Hua Xia Bank Co., Ltd., Hong Kong Branch, ICBC, Industrial Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Hong Kong Branch, Shenwan Hongyuan (H.K.), SMBC Nikko and Bank of East Asia, Ltd.
Trustee:	Citicorp International Ltd.
Coupon:	5.42%
Price:	Par
Yield:	5.42%
Pricing date:	Nov. 15
Issue date:	Nov. 22
Listing date:	Nov. 23
Rating:	Fitch: BBB+
Distribution:	Regulation S

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