Published on 11/20/2019 in the Prospect News Emerging Markets Daily.
New Issue: Nanyang Commercial sells $700 million 3.8% tier 2 notes due 2029
By Sarah Lizee
Olympia, Wash., Nov. 20 – Hong Kong’s Nanyang Commercial Bank, Ltd. sold $700 million of 3.8% tier 2 subordinated notes due 2029 (Baa3), according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
BOC International, CCB International, Cinda International, Mizuho Securities, BofA Securities and Goldman Sachs (Asia) LLC are the joint global coordinators and joint bookrunners and joint lead managers with CMB International, Bank of China (Hong Kong), China Construction Bank (Asia), AMTD, China Everbright Bank Hong Kong Branch and ICBC International.
Listing is expected for Thursday.
Nanyang Commercial is a Hong Kong-based bank.
Issuer: | Nanyang Commercial Bank, Ltd.
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Issue: | Tier 2 subordinated notes
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Amount: | $700 million
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Maturity: | 2029
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Bookrunners: | BOC International, CCB International, Cinda International, Mizuho Securities, BofA Securities and Goldman Sachs (Asia) LLC (joint global coordinators), CMB International, Bank of China (Hong Kong), China Construction Bank (Asia), AMTD, China Everbright Bank Hong Kong Branch and ICBC International
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Coupon: | 3.8%
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Announcement date: | Nov. 20
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Listing date: | Nov. 21
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Rating: | Moody’s: Baa3
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Distribution: | Regulation S
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