By Christine Van Dusen
Atlanta, June 24 – Bank of China Ltd. priced two tranches, launched another and set talk for three more (A1//expected: A) in a Regulation S deal, a market source said.
The bank priced S$500 million of 2¾% notes due June 30, 2019 at par to yield 2¾%.
It also priced €500 million floating-rate notes priced at par to yield Euribor plus 100 bps.
In addition, Bank of China launched RMB 2 billion two-year notes at 3.6%.
Finally, dollar benchmark notes due in three years were talked at a spread in the Treasuries plus 140 basis points area.
Dollar benchmark notes due in five years were talked at a spread in the 150 bps area.
And dollar benchmark notes due in 10 years were talked at a spread in the 180 bps area.
Bank of China, Barclays, Citigroup, DBS Bank and HSBC are the joint global coordinators, joint lead managers and joint bookrunners for all of the transactions.
CBA, Goldman Sachs Asia and JPMorgan are also bookrunners for the dollar notes.
OCBC and Standard Chartered Bank are additional bookrunners for the Singapore dollar notes.
| Issuer: | Bank of China Ltd.
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| Description: | Senior notes
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| Trade date: | June 24
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| Ratings: | Moody’s: A1
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| Fitch: A (expected)
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| Distribution: | Regulation S
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| Singapore dollar notes
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| Amount: | S$500 million
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| Maturity: | June 30, 2019
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| Coupon: | 2¾%
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| Price: | Par
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| Yield: | 2¾%
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| Bookrunners: | Bank of China, Barclays, Citigroup, DBS Bank, HSBC, OCBC, Standard Chartered Bank
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| Euro notes
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| Amount: | €500 million
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| Coupon: | Euribor plus 100 bps
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| Price: | Par
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| Spread: | Euribor plus 100 bps
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| Bookrunners: | Bank of China, Barclays, Citigroup, DBS Bank, HSBC
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