Lisbon, March 22, 2019 – On February 28th, Bison Bank, along with Goldman Sachs, UBS, BOCI, Credit Suisse, CLSA, DBS, served as Joint Lead Manager and Joint Bookrunner for a US$600 million fixed-rate bond issuance for Vanke Real Estate (Hong Kong) Company Limited. The issue was targeted to professional investors, maturing in 2024 (5.25 years), with a coupon rate of 4.20%.
The Vanke Real Estate (Hong Kong) Company Limited is an investment holding company of China Vanke Co., Ltd. mainly focused on the development, management and sale of quality residential properties in China. The Group is listed on Fortune 500, ranking 332th in 2018 and it is rated Baa1, BBB+, BBB+ (all stable) by Moodys’, S&P and Fitch, respectively.
On March 13th, Bison Bank acted as Joint Lead Manager and Joint Bookrunner, on a dual tenor US$700 million fixed-rate bond issuance for Joy Treasure Assets Holdings Inc., a wholly-owned subsidiary of China Orient Asset Management (International) Holding Limited (“COAMCI”). The two tranches consisted of a 5 year US$400 million fixed-rate bond issuance with a coupon rate of 3.875% and a 10 year US$300 million fixed-rate bond issuance with a coupon rate of 4.50%, both tranches were unconditionally and irrevocably guaranteed by COAMCI. Bank of America Merrill Lynch, Goldman Sachs, HSBC and JP Morgan were amongst the syndicate that executed the operation.
COAMCI is a wholly-owned subsidiary of China Orient Asset Management Co., Ltd. (COAMC) and the main overseas platform for the Group’s investment and asset management. The guarantor is rated BBB+ and A- (stable) by S&P and Fitch.
Pedro Ortigão Correia, Board Member with the responsibility of Investment Banking and Capital Markets at Bison Bank, stated – “The two successful execution of a bond issuance by Bison Bank for large Chinese enterprises in the European financial market in successive weeks not only enhances the bank’s reputation in the bond market, but also expanded the bank’s already substantial client base of European investors seeking Chinese assets; giving the bank a solid foundation for future primary bond issues.”