New Issue: China’s Agricultural Development prices RMB 1.5 billion more 3.4% bonds due 2024

By Marisa Wong

Los Angeles, Feb. 13 – Agricultural Development Bank of China priced RMB 1.5 billion of additional 3.4% bonds due 2024 at 101.83, according to a notice.

The bonds will be consolidated into and form a single series with the RMB 3 billion of 3.4% bonds due 2024 issued on Nov. 6.

Bank of China, Standard Chartered Bank, Bank of Communications, Agricultural Bank of China Ltd., Hong Kong Branch, China Construction Bank, ICBC (Asia), Shanghai Pudong Development Bank, China Citic Bank International, Mizuho Securities, KGI Asia, Credit Agricole CIB and CTBC Bank are the joint bookrunners and joint lead managers for the Regulation S add-on. Bank of China, Standard Chartered Bank and Bank of Communications are also joint global coordinators.

Proceeds will be used to fund general credit business, working capital and general corporate purposes.

Issuer:	Agricultural Development Bank of China
Issue:	Bonds, add-on
Amount:	RMB 1.5 billion
Maturity:	Nov. 6, 2024
Bookrunners:	Bank of China, Standard Chartered Bank, Bank of Communications, Agricultural Bank of China Ltd., Hong Kong Branch, China Construction Bank, ICBC (Asia), Shanghai Pudong Development Bank, China Citic Bank International, Mizuho Securities, KGI Asia, Credit Agricole CIB and CTBC Bank
Coupon:	3.4%
Price:	101.83
Pricing date:	Feb. 11
Settlement date:	Feb. 17
Distribution:	Regulation S
Total issuance:	RMB 4.5 billion, including RMB 3 billion issued on Nov. 6

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