BEIJING/SINGAPORE, Sept 12 (IFR) - HSBC Bank (China) has issued Rmb4bn (US$562m) three-year financial bonds at 3.52% in China's domestic market, near the midpoint of initial guidance of 3%–4%.
The deal was 1.36x oversubscribed.
Haitong Securities was the lead underwriter and lead bookrunner. Bank of Communications, Industrial and Commercial Bank of China, Bank of China and Shenwan Hongyuan Securities were joint underwriters.
Proceeds will be used to diversify the bank’s funding sources and improve the term structure of assets and liabilities.
China Chengxin assigned AAA ratings to both the issuer and the bonds.
The bank issued Rmb4bn three-year financial bonds at 3.74% in June, part of a Rmb16bn programme registered with financial regulators.
(Reporting by Yanfei Wang and Daniel Stanton; Editing by Vincent Baby)
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