China Citic Bank (SHA:601998, HKG:0998) London branch's proposed US dollar senior unsecured notes have received an A- long-term issue rating from S&P Global Ratings, according to a Tuesday release.

The floating-rate notes will be issued under China Citic Bank's $5 billion medium-term notes program.

The notes will serve as the branch's direct, unconditional, unsubordinated, and unsecured obligations, ranking equally with its other senior unsecured obligations except for those preferred by law.

The notes' rating is similar to the bank's long-term issuer credit rating, with the London branch having the same creditworthiness as that of the bank, S&P said.

The bank plans to use the proceeds for working and general corporate purposes.