China Merchants Bank opens books for three-year senior bond

By Frances Yoon

HONG KONG, May 7 (IFR) - China Merchants Bank's New York branch has announced price guidance on an offering of 144A/Reg S US dollar senior bonds to yield around 170bp over US Treasuries.

The three-year bond is expected to be rated Baa1/BBB+ (Moody's/S&P), on par with the issuer.

Bank of America Merrill Lynch, Citigroup, CMB International, HSBC and UBS are the joint global co-ordinators, as well as bookrunners with ANZ and Wing Lung Bank.

(Reporting By Frances Yoon, editing by Dharsan Singh and Daniel Stanton)