Skip to content

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

Related people
Lee John
John Lee

Registered Foreign Lawyer, E&W

Hong Kong

View profile →

Li Jessica
Jessica Li

Of Counsel

Hong Kong

View profile →

Press contacts

For media enquiries relating to this topic, please contact:

Mirpuri Madhu
Madhu Mirpuri

Marketing and Communications Manager

Hong Kong

View profile →

04 March 2020

Allen & Overy has advised the joint lead managers in connection with the issue of a Series A USD300 million floating rate notes due 2023 and a Series B USD500 million floating rate notes due 2025 by Bocom Leasing Management Hong Kong Company Limited.

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.