New Issue: China International Capital unit issues $500 million 5.442% notes due 2026 at par

By William Gullotti

Buffalo, N.Y., July 19 – China International Capital Corp. Ltd. (CICC) priced $500 million of 5.442% notes due 2026 (BBB+) at par, according to a listing notice with an appended offering circular on Wednesday.

The notes are issued under the company’s $10 billion guaranteed medium-term note program by CICC Hong Kong Finance 2016 MTN Ltd. and guaranteed by China International Capital Corp. (International) Ltd. with the benefit of a keepwell deed provided by CICC.

China International Capital Corp., Hong Kong Securities Ltd., Citigroup Global Markets Ltd. and Standard Chartered Bank are the lead managers for the offering.

The other managers are ABCI Capital Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China (Hong Kong) Ltd., Bank of China Ltd., Bank of Communications Co., Ltd., Hong Kong Branch, BNP Paribas, Bocom International Securities Ltd., CCB International Capital Ltd., CEB International Capital Corp., Ltd., China Citic Bank International Ltd., China Construction Bank (Asia) Corp., Ltd., China Everbright Bank Co., Ltd., Hong Kong Branch, China Galaxy International Securities (Hong Kong) Co., Ltd., China Industrial Securities International Brokerage Ltd., CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co., Ltd., CNCB (Hong Kong) Capital Ltd., DBS Bank Ltd., HSBC Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial and Commercial Bank of China (Asia) Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, Nanyang Commercial Bank, Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, Shenwang Hongyuan Securities (H.K.) Ltd., SMBC Nikko Securities (Hong Kong) Ltd., SPDB International Capital Ltd. and Tai Fung Bank Ltd.

Proceeds from the Regulation S notes will be used to repay debt, for working capital and for general corporate purposes of the guarantor and its subsidiaries.

Listing for the notes is expected on the Hong Kong Exchange effective July 19.

The financial services company is based in Beijing.

Issuer:	CICC Hong Kong Finance 2016 MTN Ltd.
Guarantor:	China International Capital Corp. (International) Ltd.
Keepwell provider:	China International Capital Corp. Ltd.
Amount:	$500 million
Issue:	Notes
Maturity:	July 18, 2026
Managers:	China International Capital Corp., Hong Kong Securities Ltd., Citigroup Global Markets Ltd., Standard Chartered Bank, ABCI Capital Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China (Hong Kong) Ltd., Bank of China Ltd., Bank of Communications Co., Ltd., Hong Kong Branch, BNP Paribas, Bocom International Securities Ltd., CCB International Capital Ltd., CEB International Capital Corp., Ltd., China Citic Bank International Ltd., China Construction Bank (Asia) Corp., Ltd., China Everbright Bank Co., Ltd., Hong Kong Branch, China Galaxy International Securities (Hong Kong) Co., Ltd., China Industrial Securities International Brokerage Ltd., CMB International Capital Ltd., CMB Wing Lung Bank Ltd., CMBC Securities Co., Ltd., CNCB (Hong Kong) Capital Ltd., DBS Bank Ltd., HSBC Ltd., Hua Xia Bank Co., Ltd., Hong Kong Branch, Industrial and Commercial Bank of China (Asia) Ltd., Industrial Bank Co., Ltd., Hong Kong Branch, Nanyang Commercial Bank, Ltd., Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, Shenwang Hongyuan Securities (H.K.) Ltd., SMBC Nikko Securities (Hong Kong) Ltd., SPDB International Capital Ltd. and Tai Fung Bank Ltd.
Trustee:	Citicorp International Ltd.
Counsel to issuer:	Linklaters (England, Hong Kong), Haiwen & Partners (China), Maples and Calder (Hong Kong) LLP (BVI)
Counsel to underwriters:	Allen & Overy (England), King & Wood Mallesons (China)
Coupon:	5.442%
Price:	Par
Yield:	5.442%
Change of control:	At par plus interest
Pricing date:	July 11
Issue date:	July 18
Listing date:	July 19
Rating:	S&P: BBB+
Distribution:	Regulation S
ISIN:	XS2648007495

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