China Huarong Asset Management plans notes under MTN program

By Sarah Lizee

Olympia, Wash., Nov. 5 – China Huarong Asset Management Co., Ltd. announced a proposed offering of dollar-denominated guaranteed notes under its $2.9 billion medium-term note program, to be issued by its wholly owned subsidiary Huarong Finance 2019 Co., Ltd.

The notes will be guaranteed by China Huarong International Holdings Ltd., according to a company notice.

Joint lead managers are Australia and New Zealand Banking Group Ltd., Bank of China Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMB Wing Lung Bank Ltd., Goldman Sachs (Asia) LLC, Huarong International Securities Ltd., Mizuho Securities Asia Ltd., Standard Chartered Bank, CCB International Capital Ltd., China Citic Bank International Ltd., Citigroup Global Markets Ltd., CMBC Securities Co. Ltd., Credit Suisse (Hong Kong) Ltd., Hongkong and Shanghai Banking Corp. Ltd., Huatai Financial Holdings (Hong Kong) Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial Bank Co., Ltd. Hong Kong Branch, Merrill Lynch (Asia Pacific) Ltd., Morgan Stanley & Co. International plc and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch.

Proceeds will be used for repaying the principal of outstanding offshore notes when due.

The state-owned asset manager is based in Beijing.

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