By Christine Van Dusen
Atlanta, June 16 – China’s Bank of Communications priced a three-tranche issue of RMB 2 billion notes due on June 23 of 2017, 2019 and 2021 (A2/A/), a market source said.
The deal included RMB 1 billion notes due 2017 that priced at par to yield 3.45% and RMB 500 million notes due 2019 that priced at par to yield 3.85%.
The third tranche totaled RMB 500 million notes due 2021 that priced at par to yield 4.15%.
Bank of Communications and HSBC were the bookrunners for the deal.
Bank of Communications is a Shanghai-based financial institution.
| Issuer: | Bank of Communications
|
| Amount: | RMB 2 billion
|
| Description: | Notes
|
| Bookrunners: | Bank of Communications, HSBC
|
| Trade date: | June 16
|
| Settlement date: | June 23
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
|
|
| Notes due 2017
|
| Amount: | RMB 1 billion
|
| Maturity: | June 23, 2017
|
| Coupon: | 3.45%
|
| Price: | Par
|
| Yield: | 3.45%
|
|
|
| Notes due 2019
|
| Amount: | RMB 500 million
|
| Maturity: | June 23, 2019
|
| Coupon: | 3.85%
|
| Price: | Par
|
| Yield: | 3.85%
|
|
|
| Notes due 2021
|
| Amount: | RMB 500 million
|
| Maturity: | June 23, 2021
|
| Coupon: | 4.15%
|
| Price: | Par
|
| Yield: | 4.15%
|
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