China Construction Bank lists renminbi bonds in Luxembourg

On 18 November 2014, the Luxembourg Stock Exchange (LuxSE) listed and admitted to trading on its Euro MTF market four bonds from China Construction Bank Asia, the Hong Kong subsidiary of China’s second largest bank and the fifth largest bank in the world by market capitalization

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18/11/2014 | Banques, caisses rurales et autres activités financières

The bonds are tranches of the bank’s USD 5 billion medium term note programme and the first to be listed in Luxembourg. All four tranches are denominated in renminbi with a total issue amount of CNY 3.3 billion (EUR 430 million).

The amounts, coupons and maturities for the four are CNY 700 million at 3.3% maturing in 2016, CNY 1 billion at 3.75% maturing in 2019, CNY 1 billion at 3.95% maturing in 2021, CNY 600 million at 4.08% maturing in 2024.

The issue was listed simultaneously in Luxembourg, Hong Kong and on the GreTai Securities Market in Taiwan, with whom LuxSE signed a memorandum of understanding in September this year. This listing further confirms LuxSE as a leading European exchange for listing Chinese issuers and Luxembourg as an important centre for the internationalisation of the renminbi. In 2013, China Construction Bank opened its European headquarters in Luxembourg.

Joint lead managers for the issue were CCB International, HSBC and KGI Securities.

Bourse de Luxembourg