HONG KONG, Nov 12 (IFR) - China Huarong Finance II is marketing a multi-tranche of three-, five- and ten-year US dollar bonds at the US Treasuries plus 205bp, T+245bp and T+300bp areas, respectively.
Parent company China Huarong International Holdings is the gurantor while China Huarong Asset Management, one of China’s bad banks, is providing a keepwell.
The bonds will list in Hong Kong under English law and are expected to score ratings of Baa1/BBB+/A.
Credit Suisse, Standard Chartered, Wing Lung and Huarong International Securities are joint global coordinators, joint bookrunners and joint lead managers.
ABC International, CCB International, DBS, Deutsche Bank, Goldman Sachs, Haitong International, Hani Securities, HSBC, ICBC, Shanghai Pudong Development and Wells Fargo are joint bookrunners and joint lead managers.
The Reg S bonds are expected to price today. (Reporting By Spencer Anderson; editing by Daniel Stanton)