IFR International - 20.10.2018

keepwell agreement and equity interest
purchase undertakings to be provided by
State Power Investment Corp.
ZHEJIANG GEELY HOLDING GROUP has hired banks
for a proposed offering of US dollar senior

unsecured bonds. Bank of China, BNP Paribas

and INGûAREûJOINTûGLOBALûCOORDINATORSûASûWELLû

ASûJOINTûLEADûMANAGERSûANDûJOINTûBOOKRUNNERSû

with China Citic Bank International, CMBC Capital

and Standard Chartered Bank.

The Chinese automaker started to meet

INVESTORSûINû3INGAPOREû(ONGû+ONGû

Frankfurt and London on October 17.

Indirectly wholly owned offshore

subsidiary Geely Sweden Finance AB (publ)

EMERGING MARKETS ASIA-PACIFIC

Pricing steps NIP (bp) Book size Ratings Bookrunners Distribution
4.7% area,
4.5% (the #)

• Rmb1.5bn A1 ICBC/DBS/HSBC/StCh/Sinopac HK/Macau/TW 71%, SG/ML 29%. Bks
  61%, FM/Ins 36%, PB 3%.
  T+105 area - US$4.25bn Aa2/AA/AA Citi/JPM/SG Asia 46%, US 33%, Eur 21%. AM/FM
  62%, CB/SWF 18%, Bks 13%, Ins 5%,
  PB/Other 2%.
  T+280 area - >US$1bn -/BBB- ABCI/ANZ/BoC/Haitong /DBS/
  ABChina/BNPP/BOCI /CCBI /CMBI/
  Wing Lung Bank /CNCBI/Everbright
  HK/CMBCHK/CSI/ICBCA/Industrial/
  JPM/MS/Ping An HK/UBS/Zhongtai/
  CEB Intl/SPDBI


• 
  

6.75% area,
6.5%

• 
  
  
  
  • 
    

    BBB- CEBI/GuotaiJunan/Zhongtai/
    Industrial/SilkRoad

    
    
  
  
  
  

3mBBSW+105/107 - A$525m A2/A/A- ANZ/CBA/HSBC/NAB Oz 64.5%, Asia 34.5%, EMEA 1%. Bks
80%, AM 17%, Other 3%.
T+105 area - US$1.9bn, 138 acs A1/A+ CA-CIB/HSBC/Miz Asia 71%, Eur 29%. AM/FM 68%, Bks
24%, Sov 5%, PB/Other 3%.
MS+120 area - - A2/A BoC/DB/HSBC/BoCom/BNPP/
ICBC/SG

Asia 68%, Germ/Aus 14%, Fra 6%, Other

Eur 6%, Switz 3%, UK 3%. FM 49%,

Bank 48%, Ins/Pen 2%, PB 1%.

• 
  
  
  
  • 
    
    
    
    • 
      

      A2/A BoC/DB/HSBC/BoCom/BNPP/
      ICBC/SG

      
      
    
    
    
    
  
  
  
  

2.74% area,
2.7%

• S$1.438bn, 76 acs Aaa/AAA DBS/HSBC/OCBC /StCh/UOB SG 92%, RoAsia 8%. CB/SWF/Agcy
  24%, Ins 54%, FM 12%, Bks 8%, Corp 1%,
  PB/Sec 1%.
  8.25% area,
  7.875% area,
  7.625% area,
  7.5%


• US$3.2bn -/B-/B HSBC/JPM/MS NAmer 39%, EMEA 37%, APAC 24%. AM
  86%, Ins/PF 12%, Other 2%.

7.75% area,
7.625%,
7.5%

• 
  

  
  

  US$6bn, >250acs Ba3/-/BB DB/GS/SG US 60%, UK 23%, RoEur 11%, Turk 5%,
  Other 1%.

  
  

  
  

T+365 area,
T+340 (+/-5)

4 >US$11bn Baa3/BBB+/BBB+ HSBC/JPM/Scotia/UBS -

4.125% area - S$250m Unrated DBS FM/Ins 41%, PB 31%, Bank/Corp 28%.
5.75% area,
5.60% (+/-5)

N/A US$2.5bn Baa3/BBB-/BBB HSBC/JPM -

ASW+105/110 - - Aa3/AA-/AA- ANZ/UBS -
MS+250 area,
MS+240 area

• 
  

  
  

  €1bn Baa2/BBB-/BBB Citi/HSBC/Mandiri/StCh -

  
  

  
  

5.75% area,
5.50% (the #)

7 US$900m Baa2/BBB-/BBB Citi/HSBC/MANDIRI/STCH US 50%, Eur 16%, Asia 34%. FM 61%,
Ins/PF 15%, Public 14%, Bank 8%, PB
2%.
6.60% area,
6.30% (the #)

9 US$1.25bn Baa2/BBB-/BBB Citi/HSBC/MANDIRI/STCH US 50%, Eur 25%, Asia 25%. FM 77%,
Ins/PF/Public 21%, Bank/PB 1%.
T+110 area - US$600m Aa2 HSBC/SG/StCh Asia 97%, Eur 3%. FM/AM 63%, Bank
33%, Ins 2%, PB 2%.
3mL+100 area - >US$1.1bn A1 Citi/CMZ/ICBC/Miz/SG/StCh/Barc/
BNPP/Cathay/HSBC

3mL+110 area - >US$1.1bn A1 Citi/CMZ/ICBC/Miz/SG/StCh/Barc/
BNPP/Cathay/HSBC

3.16% (the #) - - - DBS/OCBC/UOB -
MS+70 area - SFr100m, 21acs -/A/A+ UBS Switz 100%. AM 37.9%, Tsy 29.2%, Ins
15.2%, PB 11.5%, PF 6.1%.
13.6% area,
13.5%

• 
  
  
  
  • B3/B- DB/CISI/CMBI/Haitong -
  
  
  
  

MS+165 area 5 (vs EUR) SFr165m, 52acs Baa2/BBB CS/DB Switz 100%. AM 65%, PB 17%, Ins 14%,
PF 4%.
T+160 area,
T+155/160

• 
  
  
  
  • Baa2/BBB/BBB DB -
  
  
  
  

Mid 7% (cpn),
7.5%

N/A US$1bn BB-/BBB- Citi/CS -

T+275 area N/A US$750m Baa3/BBB-/BBB- Citi/JPM/Scotia -
7.25% (+/-12.5) - - Ba3/BB-/BB- Barc/BBSec/BBrad/BTG/Santan -

Pricing steps NIP (bp) Book size Ratings Bookrunners Distribution