New Issue: Shanghai Pudong issues HK$1.5 billion, $300 million in dual-currency deal

Chicago, April 2 – Shanghai Pudong Development Bank Co., Ltd. issued local-currency and dollar notes in a recent offering (Baa2), according to a pricing supplement.

The deal included HK$1.5 billion of 4.6% notes due 2026 and $300 million of floating-rate notes due 2027.

Both notes priced at par.

The floaters bear interest at SOFR plus 59 basis points.

Citigroup Global Markets Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Co., Ltd. Singapore Branch and SPDB International Capital Ltd. were arrangers on the offering.

Proceeds are being used for working capital and general corporate purposes.

The lender is based in Shanghai.

Issuer:	Shanghai Pudong Development Bank Co., Ltd.
Bookrunners:	Citigroup Global Markets Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, Shanghai Pudong Development Bank Co., Ltd. Singapore Branch and SPDB International Capital Ltd.
Co-managers:	ABCI Capital Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, Agricultural Bank of China Ltd., Singapore Branch, Bank of China Ltd., Bank of China (Hong Kong) Ltd., Bank of Communications Co., Ltd. Hong Kong Branch, Bocom International Securities Ltd., CCB International Capital Ltd., China Citic Bank International Ltd., China Construction Bank (Asia) Corp. Ltd., China Construction Bank Corp. Singapore Branch, CLSA Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial and Commercial Bank of China Ltd., Singapore Branch, Industrial and Commercial Bank of China (Macau) Ltd., J.P. Morgan Securities (Asia Pacific) Ltd., Orient Securities (Hong Kong) Ltd., BNP Paribas, CEB International Capital Corp. Ltd., China Everbright Bank Co., Ltd., Hong Kong Branch, China Galaxy International Securities (Hong Kong) Co., Ltd., China Industrial Securities International Brokerage Ltd., China International Capital Corp. Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities (International) Corporate Finance Company Ltd., China Zheshang Bank Co., Ltd. (Hong Kong Branch), Chiyu Banking Corp. Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Company Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, CTBC Bank Co., Ltd, DBS Bank Ltd., GF Securities (Hong Kong) Brokerage Ltd., Guotai Junan Securities (Hong Kong) Ltd., Haitong International Securities Company Ltd., HSBC Ltd., Huatai Financial Holdings (Hong Kong) Ltd., Hua Xia Bank Co., Ltd. Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, Mizuho Securities Asia Ltd., MUFG Securities EMEA plc, Nanyang Commercial Bank, Ltd., Shenwan Hongyuan Securities (H.K.) Ltd., Standard Chartered Bank and TFI Securities and Futures Ltd.
Trustee:	Bank of New York Mellon, London Branch as fiscal agent
Counsel to issuer:	Linklaters and Shanghai United Law Firm
Counsel to underwriters:	Clifford Chance and Global Law Office
Trade date:	March 15
Settlement date:	March 28
Ratings:	Moody’s: Baa2
Distribution:	Regulation S
Notes due 2026
Amount:	HK$1.5 billion
Issue:	Notes
Maturity:	March 28, 2026
Coupon:	4.6%
Price:	Par
Yield:	4.6%
ISIN:	HK0001003687
Notes due 2027
Amount:	$300 million
Issue:	Floating-rate notes
Maturity:	March 28, 2027
Coupon:	SOFR plus 59 bps
Price:	Par
ISIN:	XS2790869965

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