Lisbon, August 28, 2019 – On August 8th, Bison Bank successfully executed the issuance of a US$400 million 5-year fixed rate senior unsecured bond for Dongxing Securities Co., Ltd. (“Dongxing Securities”) with final pricing at Treasuries + 180bp. As a Portuguese bank, this was Bison Bank’s fourth USD bond transaction after China Vanke Co., Ltd., China Orient Asset Management (International) Holding Limited and Huarong Finance 2019 Co., Ltd., which together achieved a total issue size of US$3.6 billion.
Dongxing Securities, which was incorporated by China Orient Asset Management Corporation (“COAM”), is the second Chinese securities company to successfully obtain investment grade rating from three international rating agencies. Moody’s, Standard & Poor’s and Fitch assigned an issuer rating of Baa2 Stable, BBB Positive and BBB+ Stable, respectively.
There were 6 Joint Global Coordinators and 13 Joint Lead Managers in this bond transaction. This marks the first time Bison Bank undertaking the role of Joint Global Coordinator, Joint Lead Manager and Joint Bookrunner. It is also the first time for Bison Bank to execute a USD denominated bonds overseas for a Chinese domestic A-share securities company.