China CITIC Bank Corporation Limited

10/31/2018 | Press release | Distributed by Public on 10/31/2018 00:56

China CITIC Bank International successfully prices US$500 million Basel III Compliant Subordinated Additional Tier 1 Capital Securities

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China CITIC Bank International successfully prices

US$500 million Basel III Compliant Subordinated Additional Tier 1 Capital

Securities

(Hong Kong: 31 October 2018) China CITIC Bank International Limited (the "Bank" or "CNCBI"), rated A3 Stable by Moody's and BBB Stable by Fitch, announces that the Bank has successfully priced its US$500 million Basel III Compliant Undated Non-Cumulative Subordinated Additional Tier 1 Capital Securities (the "Capital Securities").

The Capital Securities were well received by investors, with a distribution rate of 7.100%, which is 20 bps inside the initial pricing guidance area released to investors.

Mr Jeffery Bai, Executive Director, Alternate Chief Executive Officer and Treasurer, CNCBI, said: "This is the Bank's third Additional Tier 1 Capital issuance and has achieved the pricing and size target of the Bank with an issuance size of US$500 million at a pricing yield of 7.100%. The encouraging response received by the Capital Securities demonstrates the Bank's pristine

reputation among market participants and the Capital Securities will further support the Bank's capital position and enhance its business sustainability."

The joint global coordinators are CNCBI, Citigroup, HSBC and ICBC International. The joint bookrunners and joint lead managers are Silk Road International, ABC International, CLSA, CMBC Capital, Mizuho Securities and Standard Chartered Bank.

The Capital Securities are undated and will carry a 7.100% distribution rate until the first call date on 6 November 2023. The distribution rate will be reset every five years if the capital securities are not redeemed, to a fixed rate equivalent to the then-prevailing five-year US Treasury rate plus 4.151%.

The Capital Securities have obtained a rating of Ba2 from Moody's and will be listed on the Hong Kong Stock Exchange on 31 October 2018.

China CITIC Bank International Limited

China CITIC Bank International Limited ("CNCBI") is 75%-owned by CITIC International Financial

Holdings Limited ("CIFH"), which in turn is a wholly-owned subsidiary of China CITIC Bank Corporation Limited ("CNCB"). The remaining 25% of CNCBI are owned by Tian Yuan Trading

Limited, Hong Kong Guansheng Investment Co., Limited, Anxin Trust Co., Limited, Clear Option Limited and Elegant Prime Limited.

By providing value-creating financial solutions to define and exceed both wealth management and international business objectives of Greater China and overseas customers, CNCBI aspires to be "the best overseas integrated financial services institution", with the highest international

standards and capabilities.

CNCBI's footprint in Greater China includes 32 branches in Hong Kong, as well as branches and presence in Beijing, Shanghai, Shenzhen and Macau. CNCBI also has overseas branches in New York, Los Angeles and Singapore. More information about CNCBI can be found on its website at www.cncbinternational.com.

For media enquiries, please contact:

Charles Mak

Christopher Law

Assistant Vice President

Assistant Manager

Corporate Communications

Corporate Communications

Tel: (852) 3603 6314

Tel: (852) 3603 6635

Fax: (852) 3603 4312

Fax: (852) 3603 4312

Email:[email protected]

Email:[email protected]

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