New Issue: China Merchants sells $350 million 2 3/8% notes due 2025

By Rebecca Melvin

New York, Oct. 20 – Ocean Laurel Co. Ltd. priced $350 million of 2 3/8% notes due 2025, which are guaranteed by China Merchants Financial Leasing Co. Ltd., according to a regulatory notice on Tuesday.

CMB International, HSBC, J.P. Morgan, Standard Chartered Bank, China Citic Bank International, China International Capital Corp., China Merchants Securities (HK), CMB Wing Lung Bank Ltd., DBS Bank Ltd. and Shanghai Pudong Development Bank were joint global coordinators, joint lead managers and joint bookrunners for the Regulation S deal.

The notes are listed on the Hong Kong stock exchange.

China Merchants Bank is based in Shenzhen, China.

Issuer:	Ocean Laurel Co. Ltd.
Guarantor:	China Merchants Financial Leasing Co. Ltd.
Amount:	$350 million
Description:	Notes
Maturity:	2023
Bookrunners:	CMB International, HSBC, J.P. Morgan, Standard Chartered Bank, China Citic Bank Internatinoal, China International Capital Corp., China Merchants Securities (HK), CMB Wing Lung Bank Ltd., DBS Bank Ltd. and Shanghai Pudong Development Bank
Coupon:	2 3/8%
Announcement date:	Oct. 20
Distribution:	Regulation S

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