By William Gullotti
Buffalo, N.Y., March 25 – Bank of China Ltd., Tokyo Branch priced ¥10 billion of floating-rate notes due 2024 (A1/A/A) at par, according to a listing notice with an appended offering circular on Friday.
The notes are issued under the $40 billion medium-term note program of Bank of China Ltd.
Interest is set at TONA plus 26 basis points.
Bank of China Ltd., Bank of China (Hong Kong) Ltd., BOCI Asia Ltd., China Construction Bank (Asia) Corp., Ltd., CLSA Ltd. and SMBC Nikko Capital Markets Ltd. are the managers for the offering.
Proceeds will be used for general corporate purposes.
Listings for the Regulation S notes are expected on the Hong Kong Exchange and the Tokyo Pro-Bond Market of the Tokyo Exchange effective March 25.
Bank of China is one of the largest state-owned commercial banks in China.
| Issuer: | Bank of China Ltd., Tokyo Branch
|
| Amount: | ¥10 billion
|
| Issue: | Notes
|
| Maturity: | March 25, 2024
|
| Managers: | Bank of China Ltd., Bank of China (Hong Kong) Ltd., BOCI Asia Ltd., China Construction Bank (Asia) Corp., Ltd., CLSA Ltd. and SMBC Nikko Capital Markets Ltd.
|
| Trustee: | Bank of New York Mellon, London Branch
|
| Counsel to issuer: | Linklaters (England), JunZeJun Law Offices (China)
|
| Counsel to bookrunners: | Allen & Overy (England), Jingtian & Gongcheng (China)
|
| Coupon: | TONA plus 26 bps
|
| Price: | Par
|
| Pricing date: | March 18
|
| Issue date: | March 24
|
| Listing date: | March 25
|
| Ratings: | Moody’s: A1
|
| S&P: A
|
| Fitch: A
|
| Distribution: | Regulation S
|
| ISIN: | XS2430983861
|
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