China Construction Bank Leasing (CCB Leasing) tapped the market with $400 million of floating rate notes on 12 July as part of its $5 billion medium-term notes programme.

The new notes, which were issued by CCB Leasing (Cayman) 1, have a five-year term. The notes are guaranteed by CCB Leasing International, CCB Leasing’s Ireland subsidiary.

Proceeds from the issuance will be used for corporate purposes.

Fitch Ratings assigned an “A” to the notes.

CCB International Capital, HSBC, Merrill Lynch (Singapore), Bank of China (Singapore), DBS Bank, MUFG Securities Asia, China Construction Bank Asia, Bank of Communications (Hong Kong), Australia and New Zealand Banking Group and Westpac Banking Corp were the lead managers and bookrunners of the notes.

CCB Leasing (Cayman) 1 is an offshore special purpose vehicle established by CCB Leasing (International), which functions as a primary overseas platform for CCB Leasing's aviation business.