New Issue: China’s Shanghai Pudong prices $700 million notes due 2024, HK$2 billion due 2023

By William Gullotti

Buffalo, N.Y., July 13 – Shanghai Pudong Development Bank Co., Ltd. priced two tranches of notes due 2023 and 2024, according to a listing notice filed with the Stock Exchange of Hong Kong, Ltd. on Tuesday.

The company priced HK$2 billion of 0.6% notes due 2023.

Additionally, the company issued a tranche of $700 million 7/8% notes due 2024.

The listings for both tranches of Regulation S notes, issued under the company’s $5 billion medium-term note program, are expected to become effective July 14.

Shanghai Pudong Development Bank, Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, Guotai Junan International, ICBC and Standard Chartered Bank are the joint global coordinators, joint bookrunners and joint lead managers.

Also serving as joint lead managers and joint bookrunners are BNP Paribas, BOSC International, CEB International, China Citic Bank International, China Industrial Securities International, China International Capital Corp., China Merchants Securities (HK), China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Chiyu Banking Corp., Ltd., Citigroup, CLSA, CMB International, CMB Wing Lung Bank Ltd., CMBC Capital, CNCB Capital, Crédit Agricole CIB, DBS Bank Ltd., Everbright Securities International, GF Securities, Haitong International, HSBC, Huatai International, Industrial Bank Co., Ltd. Hong Kong Branch, J.P. Morgan, Nanyang Commercial Bank and Shenwan Hongyuan (H.K.).

The lender is based in Shanghai.

Issuer:	Shanghai Pudong Development Bank Co., Ltd.
Issue:	Notes
Bookrunners:	Shanghai Pudong Development Bank, Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, Guotai Junan International, ICBC, Standard Chartered Bank, BNP Paribas, BOSC International, CEB International, China Citic Bank International, China Industrial Securities International, China International Capital Corp., China Merchants Securities (HK), China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities International, China Zheshang Bank Co., Ltd. (Hong Kong Branch), Chiyu Banking Corp., Ltd., Citigroup, CLSA, CMB International, CMB Wing Lung Bank Ltd., CMBC Capital, CNCB Capital, Crédit Agricole CIB, DBS Bank Ltd., Everbright Securities International, GF Securities, Haitong International, HSBC, Huatai International, Industrial Bank Co., Ltd. Hong Kong Branch, JP Morgan, Nanyang Commercial Bank and Shenwan Hongyuan (H.K.)
Pricing date:	July 6
Listing date:	July 14
2023 notes
Amount:	HK$2 billion
Maturity:	2023
Coupon:	0.6%
2024 notes
Amount:	$700 million
Maturity:	2024
Coupon:	7/8%

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