HONG KONG (Reuters) - The Export-Import Bank of China has completed its issuance of $3 billion dual currency senior notes, its second direct issuance of offshore debt since its dollar senior notes issued in 2014.
The orderbook amounted to $8.3 billion and investors include central banks, sovereign wealth funds, commercial banks and insurance companies from South Asia, Middle East, Europe and South America.
The $1.25 billion five-year U.S. dollar tranche carried a coupon of 2 percent and the $1 billion ten-year tranche at 2.875 percent.
For the euro part, the 650 million euro ($738.92 million)three-year tranche was priced at 0.375 percent.
The notes were rated Aa3 and AA- from Moody's and S&P, respectively, and will be listed in the Singapore Stock Exchange.
"It is the biggest dual currency debt issuance in global market among Chinese issuers in the past two years, and the coupons for the three tenors were also the lowest levels among Chinese names," the bank said in a statement on Wednesday.
China Export-Import Bank is a rare issuer in the global market and has drawn many foreign investors to the issuance, while its AA- rating is another attraction, bond traders say.
The joint lead managers and bookrunners for the dollar notes are Bank of China, Bank of Communications Hong Kong branch, Barclays (LON:BARC), Citi, HSBC, Mizuho Securities and MUFG.
The joint lead managers and bookrunners for the euro notes are Bank of China, Bank of Communications Hong Kong branch, Barclays, Credit Agricole (PA:CAGR) CIB, HSBC and ING.
Founded in 1994 and headquartered in Beijing, China Export-Import Bank is a policy bank under the direct leadership of the State Council and solely owned by the Chinese government.