BOC sells landmark $6.5b bank capital note

Lender raises the largest ever dollar-denominated bank capital offering, building up capital cushions to counter China’s mounting bad debt problem.

BOC sells landmark $6.5b bank capital note

Bank of China has raised a $6.5 billion Basel III-compliant Additional Tier 1 note the biggest single tranche dollar-denominated bank capital sale ever boosting much-needed capital buffers to counter China’s growing non-performing loans issue.

The bond the first offshore preference share offering from a Chinese company received a whopping order book of $21.8 billion from more than 200 accounts, according to a source close to the deal. This enabled the issuer to tighten its...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: bank of china | basel iii | bonds | banks | additional tier 1

Print Edition

FinanceAsia Print Edition

EVENTS