Hongkong : China has mandated 14 banks for the planned issuance of dollar-denominated, multi-tranche bonds, subject to market conditions, according to a term sheet seen by Reuters on Monday. The deal would raise approximately $4 billion, according to two sources with direct knowledge of the matter. Sorry, but this video has failed to load.
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The first term which included Bank of China, Bank of America, Citigroup, China Construction Bank, Deutsche Bank and Goldman Sachs, will arrange a series of investor conference calls with beginning on 18 Oct., the term sheet stated. The deal is classified as a 144 A and Reg S offering, which means U.S.-based investors can buy in. Reg S bonds may not be offered, sold or delivered within the United States, whereas 144 A offerings are U.S. private placements for U.S. investors' China s previous international sovereign bond sales have all been Reg S - offering. China first raised $6 billion in U.S. dollar bonds in October 2020, which was the first time U.S. investors could participate in the deal. Moodys said on Moday that it had rated the proposed issuance as A 1, its highest ranking, with a stable outlook.