Company News - 2 October 2016

AMTD once again successfully leads HNA Group (International) Company Limited’s US$200mm 5yr senior bond offering

On September 28, 2016, AMTD once again acted as Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager on a highly successful US$200mm 6.25% 5-year unrated senior unsecured bond offering (the “Transaction”) issued by HNA Group (International) Company Limited (the “Company”). AMTD also acted as the Dealer on the upsized US$3bn MTN programme. This Transaction follows AMTD’s recently participation as a Joint Bookrunner and Joint Lead Manager in the Company’s establishment of original US$1bn MTN Programme and subsequent US$300mm 3-year bond offering drawdown in August.

The Transaction represents one of the few recent unrated 5-year USD bond offerings by Chinese issuers and also is the second USD bond offering by the Company within two months. Nevertheless, on the back of the strong credit quality of the Company and robust credit enhancement from HNA Group Co. Limited, the Transaction was met with overwhelming demand by investors as a direct reflection of strong brand recognition and investor confidence of the HNA Group.

Similar to the previous transaction in August, AMTD once again played a critical role in providing the Company with effective execution strategy and advising the Company on market access timing. The excellent distribution and execution ability of AMTD significantly contributed to successful execution and completion of the Transaction.

AMTD remains very active in the international debt capital markets and successfully completed 15 transactions so far this year. AMTD successfully led China Minsheng Investment Corp,. Ltd’s Reg S US$500mm 3Y bond offering; a US$500mm bond offering for Zhongrong International Trust, one of the largest trust companies in the PRC; a US$300mm bond offering for Yunnan Provincial Investment, the largest comprehensive holding company in the Yunnan province; a debut US$180mm bond offering for Carnival Group, China’s only publicly listed operator of large-scale integrated tourism, hospitality and retail attraction; a US$150mm bond offering for Fenghui Leasing, a leading leasing company in China; a US$362mm exchange offer and new 5-year bond offering for Sun Hung Kai & Co, the largest unlisted financial institutions in Hong Kong; Regal Hotels (78.HK)’s US$350mm bond offering; HK$500mm bond issuance for Emperor International Holdings Limited, a famous Hong Kong listed real estate company; as well as AMTD Group’s debut US$110mm bond offering, representing the first ever international USD bond offering from an unrated and unlisted financial services company from Asia, also assisted renowned Hong Kong tycoons, ATV founder, Mr.Deacon Chiu, former chairman of Far East Development Co., Ltd. (35.HK) successfully completed the 5-year US$300mm senior notes offering (pricing of this issue recorded the lowest at Hong Kong US$ bond issuing market this year), completed pricing of Jiayuan International (2768.HK)’s US$100mm 2-year senior bond offering, an established property developer of large-scale residential complex projects and integrated commercial complex projects.

About HNA Group

HNA Group is fast growing multinational groups during China's reformation, also a leading conglomerate with established market positions, strong Industry reputation and a diversified set of businesses. The group engaged in different business segments, including air transportation, logistics transportation, hotel and catering, real estate, retail business, travel services, airport service etc. HNA Group was successively rewarded as Fortune Global 500 Companies in both 2015 and 2016.

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