When the Export-Import Bank of China (“China EximBank”) wanted to make their first bond offering in the euro market, Barclays was there to connect them to potential investors and facilitate issuance.
China EximBank was established by the Chinese government as the provider of Chinese government concessional loans and preferential export buyer's credit. Its wider mandate is to promote economic development and improve living standards in developing countries. By facilitating the export and import of Chinese mechanical and electronic products and assisting Chinese companies with their offshore contracting projects and outbound investment, China EximBank is supporting state policies to boost economic cooperation between China and the developing world.
On 19 April, Barclays acted as a Joint Bookrunner and Joint Lead Manager for China EximBank’s USD3 billion dual-currency, triple-tranche bond offering. In addition to being the largest international bond issuance out of China in 2016*, it was also China EximBank’s debut Euro offering and carries the lowest coupon amongst all Euro public bonds from Chinese issuers.
*Year to date as of 19 April 2016. Source: Dealogic
“China EximBank has great confidence in our expertise in our home markets, and in our track record executing multi-tranche and multi-currency deals. We have worked with them for a number of years, and staying close to their business has enabled us to be completely atuned to their needs as their mandate has grown.”Avinash Thakur, Head of Debt Origination, Asia Pacific
China EximBank has a proven track record in the overseas bond markets, having executed five transactions since 2012. This transaction continues Barclays’ strong and long-standing relationship with China EximBank, having acted in a leading role on all five transactions.
|A brief history of our partnership with China EximBank
|September 2015||Acted as Joint Global Coordinator and Joint Bookrunner to China EximBank on its USD1 billion dual-tranche Senior Unsecured Notes (Loan Participation Notes) Offering
|July 2014||Acted as Joint Lead Manager and Joint Bookrunner to China EximBank on its USD3 billion dual-tranche Senior Unsecured Bond Offering
|May 2014||Acted as Joint Bookrunner to China EximBank on its CNH3 billion triple-tranche Senior Unsecured Bond Offering. This transaction marked the first-ever 10-year CNH bond offering by a Chinese Policy bank
|June 2012||Acted as Joint Lead Manager and Joint Bookrunner to China EximBank on its CNH2 billion Senior Bond Offering.
Working closely with our European Syndicate team, our coverage teams in Greater China demonstrated how our deep experience with and knowledge of the European investor base can deliver access and value to institutional investors across the globe.