Bocom Leasing Management Hong Kong Company Limited issues dual tranche floating rate notes under its USD6bn MTN programme

Both notes are with the benefit of a keepwell and asset purchase deed provided by Bank of Communications Financial Leasing Co., Ltd. and are issued under Bocom Leasing Management Hong Kong Company Limited’s USD6 billion Medium Term Note Programme.

This transaction marks the first international debt securities issuance this year by a Chinese financial leasing company after the Chinese New Year period. The Series A notes are with the interest basis of 3-months USD LIBOR plus 83bps floating rate while the Series B notes are with the interest basis of 3-months USD LIBOR plus 95bps floating rate, which shows a high popularity of the issuance in the market.

Hong Kong-based partner John Lee commented: “The successful issuance demonstrates the strong confidence of international investors to BOCOM Leasing as well as Chinese financial leasing industry under the current economic environment.”

The Allen & Overy team was led by partner John Lee, with support from of counsel Jessica Li, associate Michelle Hu, trainees Hui Ling Yuen and Curtis Fung and paralegal Iris Zhou.