New Issue: China Everbright’s Sydney branch prices $550 million of three-year floaters at par

By William Gullotti

Buffalo, N.Y., Sept. 21 – China Everbright Bank Co., Ltd., via China Everbright Bank Co., Ltd., Sydney Branch, priced $550 million of floating-rate notes due 2026 (BBB+) at par, according to a listing notice with an appended offering circular on Thursday.

The Regulation S floaters are drawdowns under the parent bank’s $5 billion medium-term note program.

Interest will be SOFR plus 63 basis points.

China Everbright Bank Co., Ltd., Hong Kong Branch, CEB International Capital Corp., Ltd., Citigroup Global Markets Ltd., CLSA Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., Singapore Branch, Bank of Communications Co., Ltd., Hong Kong Branch, Industrial and Commercial Bank of China (Asia) Ltd., ABCI Capital Ltd., Agricultural Bank of China Ltd., Macao Branch, ANZ Banking Group Ltd., Bank of China (Hong Kong) Ltd., Bocom International Securities Ltd., BOSC International Securities Ltd., CCB International Capital Ltd., China Citic Bank International Ltd., China Construction Bank (Asia) Corp., Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China International Capital Corp., Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., Commonwealth Bank of Australia, Credit Agricole CIB, DBS Bank Ltd., Guotai Junan Securities (Hong Kong) Ltd., HSBC Ltd., Huatai Financial Holdings (Hong Kong) Ltd., Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Mizuho Securities Asia Ltd., MUFG Securities Asia Ltd., Nanyang Commercial Bank, Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, SMBC Nikko Securities (Hong Kong) Ltd., SPDB International Capital Ltd. and UBS AG, Australia Branch are the joint lead managers and joint bookrunners for the syndicated offering.

China Everbright Bank Co., Ltd., Hong Kong Branch, CEB International Capital Corp., Ltd., Citigroup Global Markets Ltd., CLSA Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., Singapore Branch, Bank of Communications Co., Ltd., Hong Kong Branch and Industrial and Commercial Bank of China (Asia) Ltd. also served as joint global coordinators, with Citigroup also acting as stabilization manager.

Proceeds from the issue will be used for general funding issues.

Listing for the Regulation S notes is expected on the Hong Kong Exchange effective Sept. 21.

China Everbright is a Hong Kong-based financial conglomerate in China.

Issuer:	China Everbright Bank Co., Ltd., Sydney Branch
Amount:	$550 million
Issue:	Floating rate notes
Maturity:	Sept. 20, 2026
Global coordinators:	China Everbright Bank Co., Ltd., Hong Kong Branch, CEB International Capital Corp., Ltd., Citigroup Global Markets Ltd., CLSA Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., Singapore Branch, Bank of Communications Co., Ltd., Hong Kong Branch and Industrial and Commercial Bank of China (Asia) Ltd.
Bookrunners:	China Everbright Bank Co., Ltd., Hong Kong Branch, CEB International Capital Corp., Ltd., Citigroup Global Markets Ltd., CLSA Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China Ltd., Singapore Branch, Bank of Communications Co., Ltd., Hong Kong Branch, Industrial and Commercial Bank of China (Asia) Ltd., ABCI Capital Ltd., Agricultural Bank of China Ltd., Macao Branch, ANZ Banking Group Ltd., Bank of China (Hong Kong) Ltd., Bocom International Securities Ltd., BOSC International Securities Ltd., CCB International Capital Ltd., China Citic Bank International Ltd., China Construction Bank (Asia) Corp., Ltd., China Galaxy International Securities (Hong Kong) Co., Ltd., China International Capital Corp., Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Zheshang Bank Co., Ltd. (Hong Kong Branch), CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., Commonwealth Bank of Australia, Credit Agricole CIB, DBS Bank Ltd., Guotai Junan Securities (Hong Kong) Ltd., HSBC Ltd., Huatai Financial Holdings (Hong Kong) Ltd., Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial Bank Co., Ltd., Hong Kong Branch, Mizuho Securities Asia Ltd., MUFG Securities Asia Ltd., Nanyang Commercial Bank, Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, SMBC Nikko Securities (Hong Kong) Ltd., SPDB International Capital Ltd. and UBS AG, Australia Branch
Stabilization manager:	Citigroup Global Markets Ltd.
Counsel to issuer:	Linklaters (England, Hong Kong), King & Wood Mallesons (China)
Counsel to underwriters:	Clifford Chance (England), JunHe LLP (China)
Coupon:	SOFR plus 63 bps
Price:	Par
Call:	For taxation reasons at par plus interest
Pricing date:	Sept. 13
Issue date:	Sept. 20
Listing date:	Sept. 21
Rating:	S&P: BBB+
Distribution:	Regulation S
ISIN:	XS2679063862

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