HONG KONG: The Export-Import Bank of China is planning to tap the offshore market with multi-tranche, dual currency senior notes, marking its second direct issuance of offshore debt since its dollar senior notes issued in 2014.
The notes consist of five-year and 10-year US dollar notes, as well as three-year EUR notes. The expected notes ratings are Aa3 and AA- from Moody’s and S&P, respectively.
The joint lead managers and bookrunners for the dollar notes are Bank of China, Bank of Communications Hong Kong branch, Barclays, Citi, HSBC, Mizuho Securities and MUFG.
The joint lead managers and bookrunners for the euro notes are Bank of China, Bank of Communications Hong Kong branch, Barclays, Credit Agricole CIB, HSBC and ING.
Founded in 1994 and headquartered in Beijing, China Export-Import Bank is a policy bank under the direct leadership of the State Council and solely owned by the Chinese government.
Copyright Reuters, 2016
Courtesy : BRecorder