CCB Leasing issued international bonds in dual tranche offering.
CCB Financial Leasing has tapped the market with a dual-tranche senior notes offering with a total issue size of $1 billion on the Hong Kong stock exchange.
The $400 million three-year tranche priced at 2.375%, reoffered at 99.243%, yielding 2.639% at a spread of US treasury plus 155 basis points (bps).
It also sold $600 million worth of senior unsecured bonds with a 2.750% coupon. The five-year tranche reoffered at 98.477%, yielding 3.081% at a spread of US treasury plus 168bps.
CCB Financial Leasing’s transaction is part of its $5 billion medium term note programme.
The notes, which were issued by offshore CCBL (Cayman) 1 Corp special purpose vehicle, were rated ‘A’ by Fitch.
ANZ, Bank of America Merrill Lynch, CCB International, China Construction Bank, Citigroup, DBS Bank, HSBC, Mitsubishi UFJ Securities International, Morgan Stanley, Standard Chartered Bank acted as joint bookrunners, according to the term sheet.
