AMTD completes debut US$1.496bn offshore AT1 for Bank of Jinzhou

On 20 October, 2017, Bank of Jinzhou Co., Ltd. (416.HK, “Bank of Jinzhou” or the “Bank”) successfully priced its Reg S offering of US$1.496bn offshore preference shares (the “Transaction”), with AMTD acting as the Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager. AMTD once again acted as Joint Global Coordinator following being a Joint Global Coordinator in Bank of Qingdao’s issuance of preference shares. The Transaction also represents the 10th overseas bond offering of Chinese financial institutions assisted by AMTD year-to-date, as well as the third Chinese bank offshore preference shares offering over the past three months. In addition, AMTD has participated in nearly all the Hong Kong IPOs and preference shares offerings of Chinese regional banks since the beginning of 2017. These include the H-share IPOs of Guangzhou Rural Commercial Bank (1551.HK) and Zhongyuan Bank (1216.HK), as well as the US$1.2bn preference shares offering of Bank of Qingdao (3866.HK), the US$1.19bn preference shares offering of Bank of Zhengzhou (6196.HK) and the US$1.496bn preference shares offering of Bank of Jinzhou.

Benefiting from Bank of Jinzhou’s strong financial performance, high quality assets and stringent risk management system, the Transaction was highly successful and well received by the markets. The final pricing was tightened to 5.5% from initial pricing guidance of 5.7% area, a reflection of the Bank’s business prospects being well recognized by investors. AMTD once again made a significant contribution in the marketing and distribution process, having secured sizable early anchor orders and was awarded one of the largest allocations in the deal.

The Transaction represents the 53rd offshore bond offering completed by AMTD since 2016 and the 33rd deal this year, demonstrating AMTD’s influence and strong execution capability in the international debt capital markets. In addition, AMTD has served multiple Chinese and overseas financial institutions to conduct fundraising in the international capital markets since 2016. To date, AMTD has completed offshore preference shares offering for Bank of Qingdao (3866.HK) and Bank of Zhengzhou (6196.HK), USD bond offerings for China Minsheng Bank Hong Kong Branch, Sun Hung Kai & Co. (86.HK), China Huarong Asset Management (2799.HK), Sirius International Insurance Group, Zhongrong International Trust, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, Zhongtai International, and Fenghui Leasing; as well as the H-share IPO of Bank of Qingdao (3866.HK), Guangzhou Rural Commercial Bank (1551.HK), Zhongyuan Bank (1216.HK), Bank of Tianjin (1578.HK) and Everbright Securities (6178.HK) etc.