New Issue: China’s Shanghai Pudong sells $300 million floaters due 2021 at Libor plus 87 bps

By Rebecca Melvin

New York, Nov. 26 – China’s Shanghai Pudong Development Bank Co. Ltd. sold $300 million floating-rate notes due 2021, according to a notice.

The Regulation S notes priced at par to yield Libor plus 87 basis points, according to a market source.

Lead bookrunners of the deal were Shanghai Pudong Development Bank Co. Ltd, Singapore Branch; DBS Bank Ltd.; Agricultural Bank of China Ltd., Singapore Branch; China Construction Bank Corp., Singapore Branch; Oversea-Chinese Banking Corp. Ltd.; United Overseas Bank Ltd.; Industrial and Commercial Bank of China Ltd., Singapore Branch; Haitong International Securities (Singapore) Pte. Ltd.; SPDB International Capital Ltd.; Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch; Citigroup Global Markets Ltd.; Standard Chartered Bank; Bank of China Ltd., Singapore Branch; HSBC, Singapore Branch; and CIMB Bank Bhd.

Listing of the notes is expected to take effect on Nov. 27.

The lender is based in Shanghai.

Issuer:	Shanghai Pudong Development Bank Co. Ltd.
Amount:	$300 million
Maturity:	2021
Description:	Floating-rate notes
Bookrunners:	Shanghai Pudong Development Bank Co. Ltd, Singapore Branch; DBS Bank Ltd.; Agricultural Bank of China Ltd., Singapore Branch; China Construction Bank Corp., Singapore Branch; Oversea-Chinese Banking Corp. Ltd.; United Overseas Bank Ltd.; Industrial and Commercial Bank of China Ltd., Singapore Branch; Haitong International Securities (Singapore) Pte. Ltd.; SPDB International Capital Ltd.; Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch; Citigroup Global Markets Ltd.; Standard Chartered Bank; Bank of China Ltd., Singapore Branch; HSBC, Singapore Branch; and CIMB Bank Bhd.
Coupon:	Libor plus 87 bps
Price:	Par
Yield:	Libor plus 87 bps
Issue date:	Nov. 26
Distribution:	Regulation S

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