Banking

Bank of China raises global profile with $3.8b bond

BOC is upping its international profile by issuing $3.8 billion bonds in multiple currencies in Frankfurt, Luxembourg, Sydney, Hong Kong and Macau.
Bank of China launched a $40 billion medium term note programme earlier in April.
Bank of China launched a $40 billion medium term note programme earlier in April.

Bank of China BOC is expanding its profile in Europe and Australia with bond offers in Frankfurt, Luxembourg and Sydney, as well as Hong Kong and Macau. The state-owned bank has sold $3.78 billion in eight tranches of Reg S paper in multiple currencies.  

The $3.78 billion of senior unsecured notes will be drawn from BOC’s $40 billion 12-month medium term note programme, which the Hong Kong and Shanghai-listed lender announced at the start of the month.

The size of this year’s programme has increased to $40 billion, equivalent to 1.3% of BOC’s total liabilities plus equity, from $30 billion last year,...

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