New Issue: Agricultural Bank of China prices $500 million 2 7/8% notes due 2018 at 150 bps spread

By Christine Van Dusen

Atlanta, Dec. 3 - Agricultural Bank of China Ltd. priced $500 million 2 7/8% five-year notes (expected ratings: A1/A/) at 99.811 to yield 2.916%, or Treasuries plus 150 basis points, a market source said.

Agricultural Bank of China, ABC International and Standard Chartered Bank were the joint global coordinators. Those banks - along with BofA Merrill Lynch, Citigroup, DBS Bank, Goldman Sachs and JPMorgan - were the bookrunners for the Regulation S deal.

The proceeds will be used for working capital and general corporate purposes.

Based in Beijing, the commercial bank has branches in mainland China, Hong Kong and Singapore.

Issuer:	Agricultural Bank of China Ltd.
Amount:	$500 million
Maturity:	Dec. 10, 2018
Description:	Notes
Bookrunners:	Agricultural Bank of China, ABC International, Standard Chartered Bank, BofA Merrill Lynch, Citigroup, DBS Bank, Goldman Sachs, JPMorgan
Coupon:	2 7/8%
Price:	99.811
Yield:	2.916%
Spread:	Treasuries plus 150 bps
Trade date:	Dec. 3
Settlement date:	Dec. 10
Expected ratings:	Moody's: A1
	Standard & Poor's: A
Distribution:	Regulation S

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