By William Gullotti
Buffalo, N.Y., Dec. 16 – Bocom Leasing Management Hong Kong Co., Ltd. priced RMB 2.4 billion of 2.9% bonds due 2025 (A3) at par, according to a listing notice and an offering circular on Friday.
The bonds were sold with a keepwell and asset purchase deed provided by Bank of Communications Financial Leasing Co., Ltd.
Bocom International, China International Capital Corp., China Industrial Securities International and CMBC Capital are the joint lead managers and joint bookrunners for the offering, with Bocom, China International and China Industrial also acting as joint global coordinators.
Bank of Communications is the global advisor, with Haitong Securities Co., Ltd. acting as PRC coordinator.
Proceeds will be used to finance and/or refinance eligible green and/or social projects/assets in accordance with the sustainable financing framework.
Listings for the notes are expected on the Chongwa (Macao) Exchange and the Singapore Exchange effective Dec. 16.
The issuer is an offshore subsidiary and leasing platform of Bank of Communications, which is based in Shanghai.
| Issuer: | Bocom Leasing Management Hong Kong Co. Ltd.
|
| Obligor: | Bank of Communications Financial Leasing Co. Ltd.
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| Issue: | Bonds
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| Amount: | RMB 2.4 billion
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| Maturity: | Dec. 15, 2025
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| Bookrunners: | Bocom International, China International Capital Corp., China Industrial Securities International and CMBC Capital
|
| Global advisor: | Bank of Communications
|
| PRC coordinator: | Haitong Securities Co., Ltd.
|
| Trustee: | China Central Depository & Clearing Co., Ltd. (as principal agent and registrar)
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| Counsel to issuer: | Jun He Law Offices (England), JunHe LLP (China)
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| Counsel to underwriters: | Ashurst Hong Kong (England, Hong Kong), Beijing Dacheng Law Offices, LLP (China)
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| Coupon: | 2.9%
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| Price: | Par
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| Yield: | 2.9%
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| Call: | At par plus interest for taxation reasons
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| Puts: | At 101 plus interest for a change of control
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| Pricing date: | Dec. 8
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| Issue date: | Dec. 15
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| Listing date: | Dec. 16
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| Rating: | Moody’s: A3 (expected)
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| Distribution: | Regulation S
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