BoCom Leasing takes $600m as FRNs still hold appeal

By Addison Gong
04 Dec 2019

Bank of Communications Financial Leasing Co bagged $600m from a floating rate note (FRN), taking advantage of a strong preference from investors for a floating rate format compared to fixed.

A2/A-/A BoCom Leasing raised $600m from the five year FRN at 107.5bp over three months Libor, the tight end of final guidance of 110bp over plus or minus 2.5bp.

Agricultural Bank of China Hong Kong branch, Bank of Communications, BNP Paribas, BoCom International, China International Capital Corp, ...

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