China Merchants Finance aims for $700m from dual-tranche bonds

domingo 26 de julio de 2015 23:08 GYT
 

By Spencer Anderson

HONG KONG, July 27 (IFR) - China Merchants Finance Company is marketing a dual-tranche five-year and 10-year bond to raise up to $700 million. Guidance is in the T+220bp and T+265bp area, respectively, and pricing is expected today.

Hong Kong-listed China Merchants Holdings International is the guarantor.

Bank of America Merrill Lynch is sole global coordinator. It is also joint bookrunner and joint lead manager with China Merchants Securities, Deutsche, DBS, Mizuho and United Overseas Bank.

ICBC Asia, ING, MUFG and Natixis are joint lead managers.

The Reg S bonds will list in Hong Kong under English law and are expected to be rated Baa1/BBB+. (Reporting By Spencer Anderson; editing by Steve Garton and Daniel Stanton)