By Christine Van Dusen
Atlanta, May 15 – Beijing-based Agricultural Bank of China Ltd. priced a combined $1.5 billion of three- and five-year notes in three tranches (expected ratings: A1/A/A) on Friday, a market source said.
The deal included $500 million notes due May 21, 2018 that priced at Treasuries plus 115 basis points.
A $250 million tranche of floating-rate notes due May 21, 2018 priced at par to yield Libor plus 91 bps.
And $500 million five-year notes priced at a spread of Treasuries plus 130 bps.
Citigroup, ABC International, BofA Merrill Lynch and Wells Fargo Securities were the bookrunners for the deal.
Other details were not immediately available.
| Issuer: | Agricultural Bank of China Ltd.
|
| Amount: | $1.5 billion
|
| Bookrunners: | Citigroup, ABC International, BofA Merrill Lynch, Wells Fargo Securities
|
| Trade date: | May 15
|
| Settlement date: | May 21
|
| Expected ratings: | Moody’s: A1
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Distribution: | Section 3(a)(2)
|
|
|
| Fixed-rate notes due 2018
|
| Amount: | $500 million
|
| Maturity: | May 21, 2018
|
| Spread: | Treasuries plus 115 bps
|
|
|
| Floaters due 2018
|
| Amount: | $250 million
|
| Maturity: | May 21, 2018
|
| Coupon: | Libor plus 91 bps
|
| Price: | Par
|
| Spread: | Libor plus 91 bps
|
|
|
| Notes due 2020
|
| Amount: | $500 million
|
| Maturity: | May 21, 2020
|
| Spread: | Treasuries plus 130 bps
|
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