IFR 02.29.2020

9.75% notes due December 2020, according

TOûAûSTOCKûEXCHANGEûlLING

Under the offer, it will pay US$1,018.75

plus accrued and unpaid interest in cash for

each US$1,000 of the principal amount.

The deadline for the tender offer is March

4 and settlement is expected on March 9.

Nomura and Admiralty Harbour are dealer

managers and DF King is information and tender

AGENTû4HEû(ONGû+ONG

LISTEDû#HINESEûOILlELDû

services provider said the tender offer was part

of its policy of actively managing its liabilities

and optimising its debt structure. It intends to

lNANCEûTHEûTENDERûOFFERûFROMûINTERNALûFUNDING

HONG KONG

GOVERNMENT PLANS GREEN BONDS

The GOVERNMENT OF THE HONG KONG SPECIAL

ADMINISTRATIVE REGION plans to issue green

bonds totalling HK$66bn (US$8.5bn) in the

NEXTûlVEûYEARSûACCORDINGûTOûTHEû

û

budget announced last week.

(ONGû+ONGûLASTûYEARûSOLDûITSûlRSTû

international green bond, a US$1bn offering

that drew orders of US$4bn.

The latest budget implemented stimulus

measures totalling more than HK$120bn to

support Hong Kong’s economy in the wake

of the coronavirus outbreak and continuing

anti-government protests.

International Financing Review February 29 2020 49

EMERGING MARKETS ASIA-PACIFIC

3mL+125 area - - A3/-/A BoCom/BOCOMI/ANZ/BofA/CMBI/

Haitong/HSBC/MUFG/StCh/WBC.

Asia 98%, EMEA 2%. Bks/FI 73%, FM/

AM 22%, PB/Corp/Other 5%.

3mL+115 area - - A3/-/A BoCom/BOCOMI/ANZ/BofA/CMBI/

Haitong/HSBC/MUFG/StCh/WBC.

Asia 99%, EMEA 1%. Bks/FI 61%, FM/AM

32%, PB/Corp/Other 5%.

• 
  
  
  
  • 
    
    
    
    • 
      
      
      
      • Guoyuan/Haitong/Zhongtai/Thor
        Asset Management
      
      
      • 
        
      
      
      
      
    
    
    
    
  
  
  
  

7.15% area - - Ba2 BOCI/CLSA/Haitong/Guotai Junan -

11.25% area - US$1.75bn -/-/B+ CICC/DB/Guotai Junan/UBS/AMTD/

Barc/CLSA/CMBI/CS/Haitong/

ICBCI/Shenwan Hongyuan

Asia 97%, EMEA 3%. FM 66%, PB 26%,

Bks/FI 8%.

T+175 - US$300m Baa1/-/A- BOCINTL/DBS/HSBC/ICBCA/

BoCom/Wing Lung Bank/ABCHK/

CCBI/CICC/CSI/Citi/CA-CIB/GS/

Guotai Junan/ICBC/Miz/SPDB

Asia 97%, Eur/US O/S 3%. FM 56%, Ins

34%, Bks/FI/PB 10%.

T+172 area - US$1.2bn Baa1/-/A- BOCINTL/DBS/HSBC/ICBCA/

BoCom/Wing Lung Bank/ABCHK/

CCBI/CICC/CSI/Citi/CA-CIB/GS/

Guotai Junan/ICBC/Miz/SPDB

Asia 97%, Eur/US O/S 3%. Public Sec/

Ins 35%, FM 33%, Bks/FI 31%, PB 1%.

T+150 area - US$1.4bn Baa1/-/A- BOCINTL/DBS/HSBC/ICBCA/

BoCom/Wing Lung Bank/ABCHK/

CCBI/CICC/CSI/Citi/CA-CIB/GS/

Guotai Junan/ICBC/Miz/SPDB

Asia 96%, Eur/Offshore US 4%. Public

Sec/Ins 41%, FM 31%, Bks/FI/PB 28%.

6.125% area,

5.95% (#)

• 
  
  
  
  • 
    
    
    
    • 
      

      Guotai Junan/CS/CNCBI/CMBI/CCBI/
      SPDB/Everbright HK/Industrial/DBS/
      Silk Road/Zhongtai/Orient/CLSA/
      CMBC Cap/CISI/Wing Lung Bank

      
      
    
    
    
    
  
  
  
  

6.75% area - - - CS/DBS -

4.1% area - - Ba2/-/BB+ BoCom/Citi/HSBC/BoC/Everbright

HK/CMBCHK/CLSA/Guotai Junan/

ICBCA/JPM/Silk Road/StCh/UBS/

BOCOMI

• 
  

3.7% area,

3.375%

• US$4.3bn Baa1 BOCI/DB/DBS/ICBC/JPM APAC 82%/EMEA 18%. SWF/FM 71%,
  Corp 14%, Bks 8%, Ins/PB/Other 7%.
  4.4% area,
  4.1% (#)


• US$3.2bn Baa2/-/BBB CA-CIB/HSBC/JPM/StCh/UBS Asia 97% EMEA 3%. AM/FM 60% PB
  25% Ins/Corp 10% Bks/FI 5%
  3.7% area,
  3.375%


• US$4.3bn Baa1 BOCI/DB/DBS/ICBC/JPM APAC 82%, EMEA 18%. FM/SWF 71%,
  Corp 14%, Bks 8%, Ins/PB/Other 7%.
  4.1% area - - Ba2/-/BB+ BoCom/Citi/HSBC/BoC/Everbright
  HK/CMBCHK/CLSA/Guotai Junan/
  ICBCA/JPM/Silk Road/StCh/UBS/
  BOCOMI
  5.8% area - - - CMBI/CNCBHK/CLSA/CICC/Orient/
  CEB Intl/SPDBI


• 
  

3.95% area - - Ba1/BB+/BB+ BOCI/BoC/BNPP/Citi/CA-CIB/ICBCI/

MUFG/StCh/UBS/WFS

• 
  

6.125% area,

5.9%(#)

• US$750m Ba3 HSBC/JPM/StCh -

, 8.875% area - - -/-/BB- GCs GS/StCh, JBs Heungkong/

CNCBI/CLSA/Haitong

• 
  

2.2% area - - A1/A/A BOC/CCB/China Guangfa Macau/

Luso/Tai Fung

• 
  

6.9% area - - - Guotai Junan/Haitong /CMBI/

CMBCHK/Heungkong/BEA

• 
  

T+215 area - - -/BBB- Barc/BoC/BNPP/DBS/StCh/

Everbright HK/Citi/SPDB

• 
  

2.25% area - >HK$7.1bn, >20acs A1/A/A BoC/ABCHK/Citi/CBA/CA-CIB/DBS/

HSBC/ICBCA/JPM/Scotia

Asia 98%, Eur 2%. Bks 84%, FM/PB 8%,

CB 8%.

Pricing steps NIP (bp) Book size Ratings Bookrunners Distribution

8 IFR Emerging 2322 p 45 - 54 .indd 49 28 / 02 / 2020 18 : 17 : 16