Bank of Communications Co. Ltd. plans to issue two tranches of notes through its Hong Kong branch.
The bank will issue 2.5 billion yuan of notes priced with a coupon of 3.40% and due 2021. The lender will also issue HK$3.5 billion of notes priced with a coupon of 2.85% and due 2024.
Both tranches will be issued under the Hong Kong branch's US$12 billion medium-term note program.
Bank of Communications, China International Capital Corp., Crédit Agricole CIB, CTBC Bank, HSBC, Shanghai Pudong Development Bank Hong Kong Branch and Standard Chartered Bank are the joint global coordinators, joint lead managers and joint book runners for the yuan-denominated note issuance.
The joint global coordinators, joint lead managers and joint book runners for the Hong Kong dollar-denominated note issuance are Bank of Communications, Bank of China, Chine Everbright Bank Hong Kong Branch, Commonwealth Bank of Australia, HSBC and Mizuho Securities.
The notes are expected to be listed on the Stock Exchange of Hong Kong on March 22.
As of March 21, US$1 was equivalent to 6.70 Chinese yuan.