Published on 3/8/2022 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Bank of China (Sydney) sells $400 million of 2% sustainability notes due 2025
Chicago, March 8 – Bank of China Ltd., Sydney Branch (BOC) sold $400 million of 2% sustainability-linked notes due 2025, according to a pricing supplement.
The Regulation S notes were sold at 99.87 under the bank’s $40 billion medium-term note program.
Joint lead managers and joint bookrunners for the offer are Bank of China, Bank of China (Hong Kong), BOC International, Agricultural Bank of China Ltd. Hong Kong Branch, ANZ, Bank of Communications, BNP Paribas, China Construction Bank (Asia), China Everbright Bank Hong Kong Branch, China International Capital Corp., Citigroup, CLSA, CBA, Credit Agricole CIB, DBS Bank Ltd., ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch, Macquarie Bank Ltd., Mizuho Securities, Natixis, Shanghai Pudong Development Bank Hong Kong Branch, SMBC Nikko and Standard Chartered Bank.
The proceeds will be used to finance and/or refinance eligible sustainability projects.
| Issuer: | Bank of China Ltd., Sydney Branch
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| Amount: | $400 million
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| Issue: | Sustainability-linked bonds
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| Maturity: | March 7, 2025
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| Bookrunners: | Bank of China, Bank of China (Hong Kong), BOC International, Agricultural Bank of China Ltd. Hong Kong Branch, ANZ, Bank of Communications, BNP Paribas, China Construction Bank (Asia), China Everbright Bank Hong Kong Branch, China International Capital Corp., Citigroup, CLSA, CBA, Credit Agricole CIB, DBS Bank Ltd., ICBC (Asia), Industrial Bank Co., Ltd. Hong Kong Branch, Macquarie Bank Ltd., Mizuho Securities, Natixis, Shanghai Pudong Development Bank Hong Kong Branch, SMBC Nikko and Standard Chartered Bank
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| Trustee: | Bank of New York Mellon, London Branch
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| Counsel to issuer: | Linklaters (England, New York), JunZeJun Law Offices (China)
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| Counsel to underwriters: | Allen & Overy (England, New York), Jingtian & Gongcheng (China)
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| Coupon: | 2%
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| Price: | 99.87
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| Call features: | None
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| Trade date: | Feb. 28
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| Settlement date: | March 7
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| Ratings: | Moody’s: A1
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| S&P: A
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| Fitch: A
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| Distribution: | Regulation S
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| ISIN: | XS2451854991
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