Agricultural Bank of China's NY branch issues $950M of bonds

Agricultural Bank of China Ltd., through its New York branch, issued $650 million of three-year bonds and $300 million of five-year green bonds.

The five-year tranche marks the first green bond issuance by a U.S.-based Chinese bank branch, the bank said Jan. 11.

The three- and five-year bonds were priced at reoffer spreads of 68 basis points and 80 basis points to yield 0.899% and 1.29%, respectively. The bonds will be listed on the Hong Kong bourse.

Agricultural Bank of China Ltd.'s Hong Kong branch, BofA Securities, Citigroup, Credit Agricole CIB, J.P. Morgan and Mizuho Securities served as joint global coordinators, while Bank of China (Hong Kong), Bank of Communications, Chiyu Banking Corporation Ltd., CLSA, CMB Wing Lung Bank Ltd., DBS Bank, HSBC, Standard Chartered Bank and Wells Fargo Securities acted as joint lead managers and bookrunners.