By Christine Van Dusen
Atlanta, Feb. 24 – Bank of China Hong Kong priced $2 billion of three- and five-year notes (expected ratings: A1/A/A) in three tranches on Tuesday, a market source said.
The deal included $900 million floating-rate notes due in 2019 that priced at par to yield Libor plus 105 basis points.
A $600 million tranche of 1 7/8% notes due 2019 priced at 99.742 to yield Treasuries plus 107.5 bps.
And a $500 million tranche of 2 3/8% notes due 2021 priced at 99.831 to yield Treasuries plus 120 bps.
Bank of China, Citigroup and Standard Chartered Bank were the bookrunners for the Regulation S deal.
| Issuer: | Bank of China Hong Kong
|
| Amount: | $2 billion
|
| Description: | Notes
|
| Bookrunners: | Bank of China, Citigroup, Standard Chartered Bank
|
| Trade date: | Feb. 23
|
| Settlement date: | March 1
|
| Expected ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A
|
| Distribution: | Regulation S
|
|
|
| 2019 floaters
|
| Amount: | $900 million
|
| Maturity: | March 1, 2019
|
| Coupon: | Libor plus 105 bps
|
| Price: | Par
|
| Yield: | Libor plus 105 bps
|
|
|
| 2019 fixed-rate notes
|
| Amount: | $600 million
|
| Maturity: | March 1, 2019
|
| Coupon: | 1 7/8%
|
| Price: | 99.742
|
| Spread: | Treasuries plus 107.5 bps
|
|
|
| 2021 notes
|
| Amount: | $500 million
|
| Maturity: | March 2, 2021
|
| Coupon: | 2 3/8%
|
| Price: | 99.831
|
| Spread: | Treasuries plus 120 bps
|
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