New Issue: China Development Bank prices $1 billion 2½% notes due 2020 at 85 bps spread

By Christine Van Dusen

Atlanta, Jan. 27 – China Development Bank priced an additional $1 billion 2½% notes due Oct. 9, 2020 at 100.913 to yield Treasuries plus 85 basis points on Wednesday, a market source said.

Bocom HK, KGI Asia, CCB International, ICBC, ABC International, Standard Chartered, JPMorgan, HSBC, Mizuho Securities and Bank of China were the bookrunners for the Regulation S deal.

The proceeds will be used for working capital and general corporate purposes.

The original $1 billion 2½% notes due in 2020 priced in September at 99.613 to yield 2.583%, or Treasuries plus 120 bps.

China Development Bank is a financial institution based in Beijing.

Issuer:	China Development Bank
Amount:	$1 billion
Maturity:	Oct. 9, 2020
Description:	Senior notes add-on
Bookrunners:	Bocom HK, KGI Asia, CCB International, ICBC, ABC International, Standard Chartered, JPMorgan, HSBC, Mizuho Securities, Bank of China
Coupon:	2½%
Price:	100.913
Spread:	Treasuries plus 85 bps
Trade date:	Jan. 27
Distribution:	Regulation S
Original issue:	$1 billion priced in September 2015 at 99.613 to yield 2.583%, or 120 bps over Treasuries

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