By Sarah Lizee
Olympia, Wash., March 8 – Bank of China Ltd.’s subsidiary Bank of China Ltd. Paris Branch priced €500 million of ˝% three-year senior notes (A1/A/A) at 99.896 to yield 0.535%, or a yield spread of mid-swaps plus 60 basis points, according to a market source.
The Regulation S notes are a drawdown from under the bank’s $40 billion medium-term note program.
Proceeds will be used for general corporate purposes.
Bank of China, Credit Agricole CIB, BNP Paribas, Societe Generale, Natixis, Agricultural Bank of China Ltd. Hong Kong and ICBC are joint lead arrangers and joint bookrunners.
Bank of China, Credit Agricole, BNO, Societe General and Natixis are also joint global coordinators.
The Beijing-based bank launched the $40 billion MTN program on April 9.
| Issuer: | Bank of China Ltd. Paris Branch
|
| Issue: | Senior notes
|
| Amount: | €500 million
|
| Maturity: | March 13, 2022
|
| Bookrunners: | Bank of China, Credit Agricole CIB, BNP Paribas, Societe Generale, Natixis, Agricultural Bank of China Ltd. Hong Kong and ICBC
|
| Coupon: | ˝%
|
| Price: | 99.896
|
| Yield: | 0.535%
|
| Spread: | Mid-swaps plus 60 bps
|
| Settlement date: | March 13
|
| Ratings: | Moody’s: A1
|
| S&P: A
|
| Fitch: A
|
| Distribution: | Regulation S
|
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