Agricultural Bank of China’s raised its first $1.25 billion multi-tranche SEC-registered bond on Friday morning amid a mini taper tantrum.
Rated A1AA, China’s third biggest lender priced two $500 million bonds - a three- and five-year tenor, at Treasuries plus 115 basis points and 130bp respectively, 20bp tighter than their initial price guidance areas, according to a term sheet seen by FinanceAsia.
The issuance was made through the bank's New York arm and included a $250 million three-year floating-rate note, priced at three-month Libor plus 91bp.
The triple-tranche offering, which is part of ABC’s $10 billion medium-term notes...
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