Company News - 04 December 2017

AMTD completes US$300mm bond offering for HNA Group (Intl')

On 2 November 2017, HNA Group (International) Company Limited, (the “Company”) successfully priced a Reg S US$300mm 363-day short-term senior unsecured bond offering (the “Transaction”), with AMTD acting as the Joint Bookrunner and Joint Lead Manager. Following the issuances of the US$300mm and US$200mm senior bond offerings in August and September 2016, AMTD has once again assisted the Company to complete another successful offering, demonstrating AMTD’s leadership in the international debt capital markets and execution capabilities to tap the offshore USD bond market.

The Transaction is issued by HNA Group (International) Co., Ltd, a subsidiary of the HNA Group Co., Ltd (the "Guarantor" or the "Group") with unconditional and irrevocable guarantees from the Group. Both the Group and the Transaction are unrated. Benefiting from the sizable asset base and solid credit profile of HNA Group, the Transaction was well-received by international capital markets. The final orderbook exceeded US$750mm allowing the Transaction to upsize from US$250mm to US$300mm with 2.5x oversubscription, as well as tightening final pricing to 8.875% from the initial pricing guidance of 9% area. This demonstrates that the international capital market recognized the Group’s strong credit profile and prudent business development.

As the Bookrunner and Joint Lead Manager in the Transaction, AMTD demonstrated its excellent distribution capabilities and solid client base by once again contributing high-quality orders. AMTD has completed 57 and 37 offshore bond offerings since 2016 and year-to-date, demonstrating AMTD's leadership and influences in the international debt capital markets.

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