Minsheng Financial Leasing Seeks to Sell US$450 Million Worth of USD Bonds in Two Tranches — Term Sheet

 
    By Carol Chan 
 
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HONG KONG–Minsheng Financial Leasing Co., Ltd., a unit of China Minsheng Banking Corp., Ltd. (1988.HK), is seeking to sell US$450 million worth of U.S. dollar-denominated bonds in two tranches, according to term sheet seen Friday by The Wall Street Journal.

The company is seeking to sell US$350 million worth of three-year bonds and US$100 million worth of five-year bonds via Landmark Funding 2016 Limited, the term sheet said.

It is marketing the three-year and five-year dollar bonds to yield about 1.95 percentage point and 2.25 percentage point above comparable U.S. Treasurys, respectively, according to the term sheet. The deal will be priced as early as Friday, the term sheet said.

Proceeds from the bond sale will be applied toward the advance of loans to Minsheng Hong Kong International Leasing Limited, and the loans will be guaranteed by Minsheng Financial Leasing, the term sheet said.

Standard Chartered Bank, China Minsheng Banking Corp’s Hong Kong branch, Credit Suisse, ICBC International and Shanghai Pudong Development Bank’s Hong Kong Branch are joint bookrunners on the deal, according to the term sheet.

Write to Carol Chan at carol.chan[a]wsj.com

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