Bank of China issues US$3.8b multi-currency bonds

Business | 12 Apr 2019 10:52 am

Bank of China has issued US$3.8 billion worth of multi-currency bonds to raise low-cost funding for medium and long-term projects related to the Belt and Road Initiative, Xinhua said citing a report in China Daily.

Eight types of bonds were issued in five currencies, which are the U.S. dollar, the euro, the renminbi, the Hong Kong dollar and Macau pataca, by BOC branches in Luxembourg, Frankfurt, Sydney, Hong Kong and Macau.

All the bonds will be listed on the Hong Kong Exchanges and Clearing markets, and some types of the bonds will also be listed on the China Europe International Exchange, the Frankfurt Stock Exchange and the Luxembourg Stock Exchange, according to the paper.

As the country's fourth-largest commercial lender by assets, BOC has issued BRI themed bonds five times in seven currencies since 2015, with a total value of US$14.6 billion.

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