China International unit renews $10 billion medium-term note program

By William Gullotti

Buffalo, N.Y., Jan. 5 – CICC Hong Kong Finance 2016 MTN Ltd. updated and renewed its 12-month $10 billion guaranteed medium-term note program (Baa1/BBB+/BBB+), according to listing notice with an appended circular on Friday.

Notes issued under the program will be guaranteed by the issuer’s parent company, China International Capital Corp. (International) Ltd., and will feature the benefit of a keepwell deed provided by China International Capital Corp. Ltd.

China International Capital Corp., Citigroup and Standard Chartered Bank are serving as joint arrangers and dealers for the program.

Joining them as dealers are Bank of Communications, China Construction Bank (Asia), Industrial Bank Co., Ltd., Hong Kong Branch, ICBC (Asia) and Shanghai Pudong Development Bank Hong Kong Branch.

Citicorp International Ltd. is the program trustee.

Linklaters, Haiwen & Partners and Maples and Calder (Hong Kong) LLP are the legal advisors for the issuer, guarantor and keepwell provider, with Allen & Overy and King & Wood Mallesons advising the arrangers.

The Regulation S program has an effective date of Jan. 4 and was listed on the Hong Kong Exchange Jan. 5.

CICC is a special purpose entity based in Hong Kong.

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