CITIC Securities in $3 Billion MTN Programme and $650 Million Takedown

Cleary Gottlieb represented CITIC Securities in its establishment of a $3 billion medium term note programme through CITIC Securities Finance MTN Co., a finance subsidiary. CITIC Securities is the largest securities company in China, and its shares are listed on the Stock Exchange of Hong Kong and the Shanghai Stock Exchange. CITIC Securities is providing an unconditional and irrevocable cross-border guarantee for notes issued under the programme. CITIC Securities International, Bank of China, Citi, HSBC and Standard Chartered Bank acted as arrangers and were appointed dealers under the programme, and ABC International, Crédit Agricole CIB, J.P. Morgan and UBS were also appointed dealers under the programme. The programme was established on October 17, 2014 and listed on the Stock Exchange of Hong Kong.

Cleary Gottlieb represented CITIC Securities in its Regulation S issuance of $650 million 3.50% guaranteed notes due 2019; the issuance was the company’s first under its $3 billion medium term note programme. CITIC Securities International, Bank of China, Citi, HSBC, Standard Chartered Bank, ABC International, China CITIC Bank International, Crédit Agricole CIB, J.P. Morgan and UBS acted as the joint lead managers for the notes offering. The closing took place on October 30, 2014. The notes were listed on the Stock Exchange of Hong Kong.