The notes issued under Bank of Communications Financial Leasing medium-term note (MTN) programme have been assigned a final rating of 'A' from Fitch, A2 by Moody’s and A- by S&P.
The notes, issued by Azure Nova International Finance, are: US$700million of 3% notes due on 21 March 2020, sold at a price of 99.792% with an initial yield of 3.07%; US$1.05 billion of 3.5% notes due on 21 March 2022 were sold at a price of 99.478% with an initial yield of 3.62%; and US$250million of 4.25% notes, due on 21 March 2027, sold at a price of 99.485% with an initial yield of 4.32%.
Bookrunners are ANZ, Bank of Communications, CICC, Haitong International securities, HSBC, JP Morgan and Standard Chartered Bank.
The MTN programme is unconditionally and irrevocably guaranteed by Bocom Leasing. The notes will be listed on the Hong Kong Stock Exchange and the proceeds will be used for general corporate purposes.