Bank of China likes to make a bold splash when it accesses the international bond markets and on Tuesday it daubed them green and red with a debut environmentally friendly bond that incorporated dollar, euro and renminbi tranches.
The $3.028 billion transaction comes almost one year after the A1AA rated group set the markets alight with its blockbuster $3.55 billion four-currency Silk Road bond.
This year’s deal breaks new ground on a number of fronts.
Firstly, it is the largest-ever G3 currency green bond issue from Asia ex-Japan.
But it is also notable because the renminbi tranche has come...