Published on 7/14/2020 in the Prospect News Emerging Markets Daily.
New Issue: Bank of Communications unit sells $800 million three-, five-year notes
By Sarah Lizee
Olympia, Wash., July 14 – China’s Bank of Communications Financial Leasing Co., Ltd. unit Bocom Leasing Management Hong Kong Co. Ltd. sold $350 million 1¾% notes due 2023 and $450 million floating-rate notes due 2025 (//A), according to a notice with the Stock Exchange of Hong Kong Ltd.
The notes are guaranteed by Bank of Communications and are being issued out of the group’s $6 billion medium-term note program.
Bank of Communications, Bocom International, ANZ, Bank of China, China International Capital Corp., Goldman Sachs (Asia) LLC, HSBC, ING, SMBC Nikko and Standard Chartered Bank are the joint global coordinators, joint bookrunners and joint lead managers.
Listing is expected to become effective Wednesday.
Bank of Communications is based in Shanghai.
| Issuer: | Bocom Leasing Management Hong Kong Co. Ltd.
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| Guarantor: | Bank of Communications Financial Leasing Co., Ltd.
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| Issue: | Notes
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| Amount: | $800 million
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| Bookrunners: | Bank of Communications, Bocom International, ANZ, Bank of China, China International Capital Corp., Goldman Sachs (Asia) LLC, HSBC, ING, SMBC Nikko and Standard Chartered Bank
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| Listing date: | July 15
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| Rating: | Fitch: A
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| Distribution: | Regulation S
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| 2023 notes
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| Amount: | $350 million
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| Maturity: | 2023
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| Coupon: | 1¾%
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| 2025 notes
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| Amount: | $450 million
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| Maturity: | 2025
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| Coupon: | Floating-rate
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