银国际助力中国光大银行卢森堡分行成功定价美元债券
2021-09-08光银国际
近日，光银国际作为联席全球协调人成功助力中国光大银行有限公司卢森堡分行（“光大卢森堡分行”）于香港定价3年期、美元计价的高级无抵押债券，合计金额5亿美元。此次债券发行是中国光大银行近期设立的50亿美元境外中期票据计划下的首次提取，光银国际作为安排行参与了境外中期票据计划设立的工作。此次发行债券评级为穆迪Baa2和标普BBB+，债券将于香港联交所和澳门交易所上市。
中国光大银行有限公司卢森堡分行分别于2017年8月1日获卢森堡财政部、于2017年8月22日获卢森堡证券金融监督委员会（“CSSF”）批准成为信贷机构，获发银行牌照。光大卢森堡分行可根据1993年银行法第32条对于信贷机构分行（总部位于欧盟外的第三国）的授权进行展业，包括提供商业银行的产品和服务，尤以服务寻求在欧洲投资的中国客户和与中国有业务往来的欧洲客户为主。
光银国际作为联席全球协调人在此次债券发行过程中积极向市场介绍光大卢森堡分行信用亮点，市场投资人反响热烈。簿记建档期间，光银国际与承销团一起为光大卢森堡分行做出了全面的市场分析，确定了最利于发行的初始价格指引，并率先下达牵头订单，助力建立账簿动能，吸引到大量优质订单，账簿规模最大时超过29亿美元，超额认购接近6倍，成功将债券收益率由初始价格指引的T3+80基点区间大幅收窄40个基点至最终定价的T3+40基点，完成本次计划的5亿美元债券定价, 这也是近年来国有股份制商业银行最低的息票率。此次发行为光大卢森堡分行在国际资本市场上获得了更多的投资人认可。以此为契机，光银国际将加大与光大银行卢森堡分行的合作力度，加强业务的联动及协同，未来争取在多层次的业务上实现多元化的合作。
On 8th September, China Everbright Bank Luxembourg Branch (“CEB Luxemburg Branch”) successfully priced its US$500million 3-year senior fixed rate notes (the “Notes”). CEBI acted as Joint Global Coordinator on this deal. The Notes issuance is the first-time drawdown of China Everbright Bank’s USD5 billion EMTN Programme (the “Programme”) and CEBI acted as Arranger on the setup of the Programme. The Notes are rated Baa2 by Moody’s and BBB+ by S&P, and the Notes will be dual listed on The Stock Exchange of Hong Kong Limited and Chongwa (Macao) Financial Asset Exchange Co., Ltd.
CEB Luxemburg Branch was granted its banking license as a credit institution by the Luxembourg Ministry of Finance on 1 August 2017 and from the Commission de Surveillance du Secteur Financier (the “CSSF”) on 22 August 2017. CEB Luxemburg Branch has a fully banking licence as a branch of credit institution having its head office in a third country, outside the European Union, to perform banking activities pursuant to Article 32 of the Banking Act 1993 including the provision of products and services in commercial banking, in particular Chinese customers looking to invest in Europe and European customers with business interests in China.
As JGC, CEBI actively marketed to potential investors and updated them CEB Luxemburg Branch’s recent developments as well as credit highlights. On the bookbuilding day, CEBI, together with the syndicate group, helped CEB Luxemburg Branch decide on setting the most optimal IPG. The transaction was announced with an initial price guidance of T3+80bps area and received overwhelming demand from institutional investors. CEBI contributed to building up the book momentum by putting in market lead order, which underpinned the success of the transaction. Investor book was once over USD2.9bn representing nearly 6x oversubscription, which allowed CEB Luxemburg Branch to tighten price guidance by 40bps and the Notes was finally priced at T3+40bps, which is the lowest coupon rate among recent offshore bonds issuances by the 12 Chinese joint-stock commercial banks. The successful notes issuance will strengthen the business partnership between CEB Luxemburg Branch and CEBI and will enhance our future cooperation in thriving for various business expansion.
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