CICC Completes the 2nd Tranche Issuance of Rusal Panda Bond

CICC successfully completed the book building of United Company RUSAL Plc (“RUSAL” or the “issuer”) 2017 Non-Public Issuance of Corporate Bond (Second Tranche) on September 1st, 2017. CICC acted as the Sole Underwriter and Book Runner for the transaction. Following Rusal's First Tranche Panda Bond issuance in the Shanghai Stock Exchange in March 2017, the 2nd tranche issuance is another milestone event in China's capital market for issuers from Russia, BRICS countries, and the Belt and Road Initiative Region.

The second tranche was fully secured by China United SME Guarantee Corporation, with bond rating enhanced to AAA. On September 1st, 2017, the book building of the 2nd tranche was successfully completed with a total size of RMB 0.5 billion and a coupon rate of 5.50%.

Rusal is the world's second largest manufacturer of primary aluminum and aluminum alloys, and is listed on multiple stock exchanges, including the Hong Kong Stock Exchange. Rusal applied RMB 10 billion private-placed Panda Bond, issued by several tranches, to SSE and obtained the approved in January 2017. The RMB 1 billion 1st tranche issuance was successfully completed in March, 2017.

The successful issuance of the two tranches of RUSAL Panda Bond is a trail-blazer for issuers in the Belt and Road Initiative Region and BRICS countries, symbolizing the opening-up of the Chinese capital market, further expanding the financing options of the countries on the "Belt and Road" & BRICS map. Acting as the Sole Underwriter and Book Runner for the transaction, once again showcased CICC’s capability of providing top-standard global capital market services and further demonstrated its “Chinese Roots, International Reach” philosophy.