China Construction Bank sold mainland China’s first global bank capital offering since November on Wednesday evening in Asia, a $2 billion 10-year tier-2 bond callable in year five.
Rated BBB by both Standard Poor’s and Fitch, the Basel III-compliant note priced at US Treasuries plus 242.5 basis points, which is 12.5bp tighter than its initial price guidance area, according to a term sheet seen by FinanceAsia.
The debt sale follows CCB’s investment roadshow, which began on April 29 in Hong Kong, Singapore and London. Order books were in excess of $7 billion from over 250 accounts, said a source...
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