CITIC Securities in $800 Million Credit Enhanced Bond Offering

May 3, 2013

Cleary Gottlieb represented CITIC Securities Company Limited and its wholly-owned finance subsidiary in a US$800 million offering of 2.50% Credit Enhanced Bonds due 2018. This is the inaugural international bond offering of the CITIC Securities group of companies. The Bonds have the benefit of a keepwell deed provided by CITIC Securities and an irrevocable standby letter of credit issued by Bank of China Limited, Macau branch, acting as an external credit enhancement provider. The Bonds were listed on the Stock Exchange of Hong Kong Limited. CITIC Securities International, Bank of China, Citi, HSBC and Standard Chartered Bank served as the Joint Global Coordinators and Joint Lead Managers; CITIC Securities International, Bank of China, Citi, HSBC, Standard Chartered Bank and BofA Merrill Lynch served as Active Joint Bookrunners; and Deutsche Bank, Credit Agricole CIB, J.P. Morgan, Barclays and ABC International served as the Joint Bookrunners of this transaction. The transaction priced on April 26 and closed on May 3.

CITIC Securities is one of the leading full-service investment banks in China. In 2012, it was ranked top in China for investment banking, asset management, sales and trading and brokerage, and had the highest revenue, net profit and total assets among China’s investment banks.