Export Development Canada debuts first $3 bln Wonton Bond with BOC Hong Kong

Bank of China (Hong Kong) (3988) said on Tuesday that it has assisted Export Development Canada in issuing its first Hong Kong dollar-denominated Wonton Bond, which is also the first Wonton Bond issued by a quasi-sovereign entity from Canada.

The bond has a 3-year tenor, a total issuance size of HK$3 billion, and was priced at 3.627 percent. The bond is custodied and settled through the Hong Kong Monetary Authority's Central Moneymarkets Unit. The bookbuilding order exceeded HK$4.9 billion, with strong subscriptions from Asian and international institutional investors.

Wang Huabin, vice president of BOC Hong Kong, said this is the first time that the bank has underwritten a Hong Kong dollar-denominated bond for a Canadian issuer, providing a benchmark for more high-quality Canadian issuers to enter the Hong Kong and Asian bond market, as well as further enriching the types of high-quality issuers in the Hong Kong dollar-denominated bond market, broadening the diversity of issuers’ geographies and structures.

BOC Hong Kong said it will continue to deepen cross-border collaboration within the group, actively participate in the development of global capital markets, and provide global clients with higher-quality and more comprehensive cross-border financial services.
 

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