Published on 5/11/2016 in the Prospect News Emerging Markets Daily.
New Issue: China International Capital prices $500 million 2¾% three-year notes at 99.826
By Angela McDaniels
Tacoma, Wash., May 11 – China International Capital Corp. Ltd. priced $500 million of 2¾% guaranteed notes (/BBB+/BBB+) due 2019 at 99.826 under its recently established $2 billion guaranteed medium-term note program, according to a company announcement.
The notes were issued through CICC Hong Kong Finance 2016 MTN Ltd. and are guaranteed by China International Capital Corp. (Hong Kong) Ltd.
China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd. and Standard Chartered Bank are the joint global coordinators. They are joined as bookrunners and lead managers by ABCI Capital Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, China Construction Bank (Asia) Corp. Ltd., Goldman Sachs (Asia) LLC, Hongkong and Shanghai Banking Corp. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Oversea-Chinese Banking Corp. Ltd. and Wing Lung Bank Ltd.
Proceeds will be used to repay debt and for working capital and general corporate purposes.
The financial services company is based in Beijing.
| Issuer: | CICC Hong Kong Finance 2016 MTN Ltd.
|
| Guarantor: | China International Capital Corp. (Hong Kong) Ltd.
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| Issue: | Notes
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| Amount: | $500 million
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| Maturity: | May 18, 2019
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| Coupon: | 2¾%
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| Price: | 99.826
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| Bookrunners: | China International Capital Corp. Hong Kong Securities Ltd., Citigroup Global Markets Ltd., Standard Chartered Bank, ABCI Capital Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, China Construction Bank (Asia) Corp. Ltd., Goldman Sachs (Asia) LLC, Hongkong and Shanghai Banking Corp. Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Oversea-Chinese Banking Corp. Ltd. and Wing Lung Bank Ltd.
|
| Pricing date: | May 11
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| Settlement date: | May 18
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| Ratings: | S&P: BBB+
|
| Fitch: BBB+
|
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