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Agricultural Bank of China New York Branch Successfully Issued $1.25bn MTN

  On May 9th, 2016, Agricultural Bank of China New York Branch successfully issued a total of $1.25bn 3-year Medium Term Notes; $850mm are floating rate notes and $400mm are fixed rate notes paying a coupon rate of 3-month LIBOR+98bps and 1.875%, respectively. This issuance was the first MTN issuance this year among Chinese banks domiciled in the US and captured favorable market window. The order book was nearly 4 times oversubscribed and well exemplifies the recognition of ABC’s name and capability in the global market.