Published on 9/19/2023 in the Prospect News Emerging Markets Daily.
New Issue: China Merchants Securities unit sells RMB 1 billion 3.3% guaranteed notes due 2026 at par
By William Gullotti
Buffalo, N.Y., Sept. 19 – CMS International Gemstone Ltd., a wholly owned subsidiary of China Merchants Securities International Co., Ltd., sold RMB 1 billion of 3.3% guaranteed notes due 2026 (Baa2) at par, according to a listing notice with an appended pricing supplement on Tuesday.
The notes will be issued under the company’s $2 billion medium-term note program and guaranteed by the parent company.
China Merchants Securities (HK), CMB Wing Lung Bank Ltd., HSBC, China Citic Bank International, BOSC International, CEB International, China Construction Bank (Asia), China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMB International, CMBC Capital, CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, Mizuho, Shanghai Pudong Development Bank Hong Kong Branch, SMBC Nikko and Standard Chartered Bank are the joint lead managers and joint bookrunners for the offering, with China Merchants (HK), CMB Wing Lung, HSBC and China Citic also acting as joint global coordinators.
The listing for the Regulation S notes is expected on the Hong Kong Exchange effective Sept. 19.
Incorporated in the British Virgin Islands, CMS International Gemstone is a wholly owned subsidiary of CMS International. China Merchants Securities is a trading and brokerage firm based in Shenzhen, China.
| Issuer: | CMS International Gemstone Ltd.
|
| Guarantor: | China Merchants Securities International Co., Ltd.
|
| Amount: | RMB 1 billion
|
| Issue: | Guaranteed notes
|
| Maturity: | September 2026
|
| Bookrunners: | China Merchants Securities (HK), CMB Wing Lung Bank Ltd., HSBC, China Citic Bank International, BOSC International, CEB International, China Construction Bank (Asia), China Industrial Securities International, China Minsheng Banking Corp., Ltd., Hong Kong Branch, CMB International, CMBC Capital, CNCB Capital, Industrial Bank Co., Ltd., Hong Kong Branch, Mizuho, Shanghai Pudong Development Bank Hong Kong Branch, SMBC Nikko and Standard Chartered Bank
|
| Trustee: | China Construction Bank (Asia) Corp., Ltd.
|
| Counsel to issuer: | King & Wood Mallesons (England, China), Walkers (Hong Kong) (BVI)
|
| Counsel to underwriters: | Clifford Chance (England), JunHe LLP (China)
|
| Coupon: | 3.3%
|
| Price: | Par
|
| Yield: | 3.3%
|
| Call: | For taxation reasons at par plus interest
|
| Change of control: | At par plus interest
|
| Pricing date: | Sept. 11
|
| Issue date: | Sept. 18
|
| Listing date: | Sept. 19
|
| Rating: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
| ISIN: | HK0000950995
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
