China Cinda raises $400 mln in 3-1/2-year dollar bond - term sheet (updated)

China Cinda Asset Management

01/08/2023 02:54

(Adds final pricing details)
       SYDNEY, Aug 1 (Reuters) - Financial services firm China
Cinda (HK) Holdings has raised $400 million in a 3-1/2-year U.S.
dollar bond, according to a term sheet seen by Reuters.
    The wholly-owned subsidiary of China Cinda Asset Management
 1359.HK  has priced the deal at an 130 basis points (bps) above
three-year U.S. Treasuries, the term sheet showed. 
    The final pricing was about 45 bps lower than the initial
price guidance, at 175 bps area above three-year U.S.
Treasuries. The note pays a 5.75% coupon. 
    Issued by China Cinda (2020) I Management, the bond will
mature in February 2027, and is expected to be rated at BBB+ by
S&P Global Ratings. 
    China Cinda (HK) was not immediately available for comment
on Tuesday. The bond will be listed on the Hong Kong Exchanges &
Clearing  0388.HK . 

 (Reporting by Scott Murdoch; Georgina Lee Editing by Kim
Coghill)
 ((Scott.Murdoch@thomsonreuters.com;))