The Reg S trade was run by global co-ordinators Bank of China, Huatai Financial Holdings (Hong Kong), ICBC and JP Morgan. ABC International, Bank of Communications, CCB International, China Everbright Bank Hong Kong branch, China Merchants Securities (Hong Kong), China Minsheng Bank Hong Kong branch, China PA Securities (Hong Kong), Citi, CMB International, Industrial Bank Hong Kong branch, Nanyang Commercial Bank and Standard Chartered were also on the senior trade as bookrunners and lead managers.
The leads opened orders for the three year floating rate note at the 125bp over three month Libor area. The $400m 2023 trade was closed at 95bp over.
The BBB rated paper was issued by Pioneer Reward, and guaranteed by Huatai Securities.
The brokerage firm most recently sold a $500m 3.375% 2022 note in May 2019.
The proceeds from the Hong Kong-listed trade will be used for onshore and offshore business development, as well as for refinancing.