April 19, 2016 / 2:01 AM / 4 years ago

Chexim opens books for dual-currency offshore bonds

HONG KONG, April 19 (IFR) - The Export-Import Bank of China is marketing Reg S euro and US dollar-denominated bonds. The three-year euro tranche is indicated at mid-swaps plus 75bp area, while the five-year US dollar is in the Treasuries plus 100bp area.

The 10-year US dollar tranche is marketed at Treasuries plus 135bp area.

Chexim’s benchmark-size offering is expected to price today.

Bank of China, Bocom HK, Barclays, Citigroup, HSBC, Mizuho Securities and MUFG are joint lead managers and joint bookrunners for the US dollar tranches.

Bocom International, ING, KGI Securities OSU and Westpac are joint lead managers.

Bank of China, Bocom HK, Barclays, Credit Agricole, HSBC and ING are joint lead managers and joint bookrunners for the euro offering.

The bonds are expected to be rated Aa3/AA- (Moody’s/S&P). (Reporting by Spencer Anderson; Editing by Vincent Baby and Daniel Stanton)

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