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Mandate Announcement


Agricultural Development Bank of China (the “Bank”), rated A1 by Moody's and A+ by S&P both with Stable outlook, has mandated Bank of China1, Standard Chartered Bank2 and Bank of Communications as Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers, Agricultural Bank of China Limited Hong Kong Branch3, ABC International, China Construction Bank4, ICBC (Asia), SPDB International, CLSA, Mizuho Securities, Crédit Agricole CIB5, CTBC Bank6, KGI Asia and DBS Bank Ltd. as Joint Bookrunners and Joint Lead Managers to arrange a series of fixed income investor conference calls, commencing on 19 October 2020. The proposed offering of CNH-denominated Regulation S (Category 1) senior bonds (the “Bonds”) may follow. The Bonds are expected to be rated A+ by S&P.

1 Includes Bank of China Limited, a joint stock company incorporated in the People’s Republic of China with limited liability and Bank of China (Hong Kong) Limited;

2 Incorporated with limited liability in England by Royal Charter;

3 Incorporated in the People's Republic of China with limited liability;

4 a company incorporated in the People’s Republic of China with limited liability;

5 Incorporated in France with members’ limited liability; and

6 Incorporated in Taiwan region with limited liability.

FCA / ICMA stabilisation applies.

Singapore Securities and Futures Act Product Classification – In connection with Section 309B(1)(c) of the Securities and Futures Act (Chapter 289) of Singapore (the “SFA”) and the Securities and Futures (Capital Markets Products) Regulations 2018 (the “CMP Regulations 2018”), the Bank has determined, and hereby notifies all relevant persons (as defined in Section 309A(1) of the SFA), the classification of the Bonds as prescribed capital markets products (as defined in the CMP Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

This announcement is confidential and solely for the use of the person it is addressed to and its advisers. Release, transmission or distribution to any other person is prohibited. The distribution of this announcement and other information referred to herein may be restricted by law and persons into whose possession this announcement or such other information comes should inform themselves about and observe any such restriction.

This announcement does not constitute or form part of any offer to purchase, a solicitation of an offer to purchase, an offer to sell or an invitation or solicitation of an offer to sell, issue or subscribe for, securities in or into the United States or in any other jurisdiction. No securities mentioned herein have been, or will be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws or other jurisdiction of the United States and no such securities may be offered or sold in or into the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements under the U.S. Securities Act and any applicable state or local securities laws of the United States.

The securities referred to herein will be offered and sold only outside the United States in accordance with Regulation S under the U.S. Securities Act.

Not for distribution in the United States.

There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States or in any other jurisdiction where such an offering is restricted or prohibited or where such offer would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Nothing in this communication shall constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer or sale would be unlawful. Any offering of securities will be made by means of one or more offering documents, which will contain detailed information about the Bank and its management and financial statements. No action has been taken in any jurisdiction that would permit a public offering of the securities to occur in any jurisdiction. Failure to comply with the above restrictions may result in a violation of U.S. securities laws or applicable laws of other jurisdictions.

No money, securities or other consideration is being solicited by this announcement or the information contained herein and, if sent in response to this announcement or the information contained herein, will not be accepted.

A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension, reduction or withdrawal at any time by the relevant rating agencies. The significance of each rating should be analysed independently from any other rating.

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