New Issue: China International Capital prices $1.25 billion 5.493% notes due 2026 at par

By William Gullotti

Buffalo, N.Y., Feb. 23 – China International Capital Corp. Ltd. (CICC) priced $1.25 billion of 5.493% notes due 2026 (Baa1) at par, according to an announcement on Thursday.

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, China Galaxy International, ABC International, Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China, Bank of Communications, China Construction Bank, China Everbright Bank, China Citic Bank International, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Chiyu Banking Corporation Ltd., China Merchants Bank, CNCB Capital, Hua Xia Bank Co., Ltd., Hong Kong Branch, ICBC, Industrial Bank Co., Ltd., Hong Kong Branch, Nanyang Commercial Bank, OCBC Bank, 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 March 2.

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:	$1.25 billion
Issue:	Notes
Maturity:	March 1, 2026
Bookrunners:	CICC HK Securities, Citigroup, Standard Chartered Bank, China Galaxy International, ABC International, Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China, Bank of Communications, China Construction Bank, China Everbright Bank, China Citic Bank International, China Industrial Securities International, China Minsheng Banking Corp., Ltd., Chiyu Banking Corporation Ltd., China Merchants Bank, CNCB Capital, Hua Xia Bank Co., Ltd., Hong Kong Branch, ICBC, Industrial Bank Co., Ltd., Hong Kong Branch, Nanyang Commercial Bank, OCBC Bank, Shanghai Pudong Development Bank Hong Kong Branch, Shenwan Hongyuan (H.K.), SMBC Nikko and Bank of East Asia, Ltd.
Trustee:	Citicorp International Ltd.
Coupon:	5.493%
Price:	Par
Yield:	5.493%
Pricing date:	Feb. 22
Issue date:	March 1
Listing date:	March 2
Rating:	Moody’s: Baa1
Distribution:	Regulation S

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.